Italian dairy firm Parmalat, through its subsidiary LAG Holding Inc., has acquired two companies operating in the dairy sector in the US.
With this transaction, the Parmalat Group has increased its current portfolio of gourmet cheeses and entered the yoghurt market.
The acquisition included a production facility in Turlock, California and two companies with approximately 140 employees combined. The brand portfolio includes the “Karoun”, “Gopi” and “Blue Isle” brands.
In a statement, Parmalat reported that in 2016, the two companies had net revenue of about $55 million and the enterprise value of the acquired businesses was set at about $130 million.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Gavin Ryan. Click subscribe to sign up to ESM: The European Supermarket Magazine.