Dive Brief:
- Parmalat, the Italy-based dairy company controlled by France's Lactalis, is buying the dairy assets of Brazil's BRF for $805 million.
- The purchase likely makes Parmalat the second-largest dairy company in Brazil, surpassing Danone and trailing only Nestle.
- Parmalat is investing heavily in Brazil. Last month it acquired the dairy operations of bankrupt Lacteos deo Brasil, and last year it bought gourmet cheese maker Balkis.
Dive Insight:
The losers in this transaction are Danone, Nestle, Grupo Lala and other global dairy players, all of which were said to have expressed interest in acquiring the 11 dairy plants owned by BRF.