August 26, 2010

Lactalis gets EU approval for Puleva takevoer

Lactalis has secured regulatory approval from the EU to buy Puleva Foods, the dairy arm of Spanish food giant Ebo Puvela.

The EUR630-million (US$801.2-million) deal will give Lactalis - already Europe's largest dairy group - a strong foothold in the Spanish market, while Ebro will concentrate on developing its packaged meals business.

The proposed Puleva Foods buyout is the latest in a string of acquisitions for Lactalis, including the Italian cheese company Galbani, US company Rondele, and the Lubborn creamery in the UK.

In a statement, the European Commission concluded that the transaction would not significantly impede competition in Europe or Spain.