France: Lactalis looks to acquire Albalact
French dairy giant Lactalis is aiming to close a deal to acquire the leading Romanian dairy player Albalact, according to a report in Romania Insider.
Present in the Romanian dairy space for more than 40 years, Albalact produces milk and fresh dairy products in a facility in Oiejdea, and a range of cheese at a plant in Raraul. It owns Romania's leading milk brand Zuzu and also holds the best-selling brand of butter and sour cream – the traditional De Albalact brand.
According to Romania Insider, Lactalis has reached an agreement with Albalact’s primary shareholders to buy stakes totalling 70.3% of the company’s capital and, providing certain conditions are met, will now launch a public takeover bid through which it will aim to acquire 100% of Albalact’s shares.
Albalact reported turnover of €106 million ($118 million) and net profit of €2.7 million ($3.0 million) in 2014. The expected value of the deal is around €65 million ($72 million).
Source: Romania Insider / Albalact