BRAZIL: Parmalat acquires diary division of Brazil’s BRF | Progresiv
Italian dairy giant Parmalat has completed the acquisition of the dairy division of BRF - one of Brazil’s top companies in the food sector. The transaction, originally announced in December 2014, was carried out through the acquisition, by the subsidiary Lactalis do Brasil, of the entire share capital of Elebat, a company to which BRF conveyed all of its dairy business assets, comprised of 11 production facilities in Brazil and several brands, including Batavo, Elegé, Cotochés, Santa Rosa and DoBon. 
The proforma revenues of BRF’s dairy division amounted to about 2.7 billion reales (approximately 865 million euros) in 2014 (2.6 billion reales in 2013).
The price, agreed by the parties in the amount of about 700 million dollars, was paid in full and will be subject to adjustments based on the level of Elebat’s debt and working capital on the closing date.
This acquisition has been financed with internal resources and through the partial utilization of a medium/long-term financing facility. (www.esmmagazine.com)
