ROMANIA: Lactalis to become market leader after taking over Albalact | Progresiv

Albalact Alba Iulia, the largest player on the local dairy market, will be taken over by French group Lactalis, the transaction being approved by shareholders of both companies. Thus, if the transaction receives the approval of the Competition Council, Lactalis will become the local dairy market leader.

According to information published by Albalact, Lactalis plans to launch a voluntary public takeover bid for the entire stake of Romanian company. This is not the first important acquisition of the French manufacturer on the local market - Lactalis bought the LaDorna brand in 2008, from Jean Valvis.

"Lactalis has signed a contract with the seller shareholders holding 70.3% of the capital of Albalact aiming to acquire all the shares held by seller shareholders", reads the document published by Albalact.

Albalact is the largest entrepreneurship business in the dairy industry, holding the top position among the largest dairy manufacturers after in 2014 deposed the French group Danone from the market leadership position. For the past year, the company budgeted a consolidated turnover of 419 million lei.

The company's largest shareholder is Raul Ciurtin businessman. Albalact has a portfolio of over 150 products, marketed under its five brands: Zuzu, Fulga, De Albalact, Raraul and Poiana Florilor. The company owns 99.01% of the shares of Raraul in Campulung Moldovenesc and 100 of the shares of Albalact Logistic transport company.

Lactalis Group owns several international brands such as President, Parmalat, Galbani, having 200 factories in 43 countries and 75,000 employees. Last year, Lactalis had a turnover of 17 billion euros.