EGYPT – French dairy giant Lactalis has acquired Egyptian food and beverage company, Greenland Group through its joint-venture facility, Lactalis-Halawa in a transaction whose price was not disclosed.
It mainly operates in cheese, and has five production sites in Egypt employing 1,250 people.
“The acquisition of Green Land will effectively strengthen our position in the cheese category, but since the start of the partnership with Halawa we always worked to build a strong position in all the categories of dairy products such as p-processed cheese, then white cheese, yogurts since 2008/09 and UHT milk since 2011,” said Lactalis spokesperson.
“The deal testifies to the Lactalis Group’s constant interest in developing the Egyptian market”, the company noted.
The Lactalis–Halawa Group is a major producer of Dairy Products in Egypt with presence across all dairy categories, including Cheeses – Processed Cheese, White Cheese, Pizza Cheese – Chilled Dairy Milk, UHT and Fresh Milk – Juices Infant Nutrition.
The transaction comes at a time when French dairy company, Lactalis reached an agreement to acquire an Indian milk-processing business, Prabhat Dairy, for US$238.37 million.
Last year, the Lactalis acquired the Malaysian assets of Swiss food group Nestle to include the latter’s operations in chilled dairy, the production of cold sauces and the packing of milk powder.