Parmalat to buy LBR units

Parmalat to buy LBR units

M&A

Creditors to Lacteos Brasil (LBR) have approved a bid from Parmalat to buy certain units producing cheese and long-life milk, the buyer said on Friday. Parmalat is to pay BRL250m ($109.77m) for the LBR units which had proforma revenues of BRL580m last year. The deal comes after years of negotiations: the pair was heard to be in discussion over a potential merger in 2011. Parmalat said in September last year that it would abandon talks to acquire LBR, as the “conditions for completing this transa

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial