MEXICO CITY — Grupo Lala, S.A.B. de C.V. (BMV "LALA") informs that, as it has been advanced in the press release of October 26th, the Cooperativa Central dos Produtores Rurais de Minas Gerais Ltda ("CCPR") exercised its right of first refusal to acquire 50% of the shares representing the capital stock of Itambé, which belonged to Vigor Alimentos S.A. ("Vigor"), for an implicit value of R$ 700 million.
Therefore, the scope of the acquisition in Brazil is 99.9% of the shares of Vigor for an implicit net value of R$ 4,325 million.
We want to highlight that Lala's interest is in the value-added dairy segment, where Vigor has widely recognized brands, such as Vigor®, Danubio®, Faixa Azul®, Serrabella®, Leco®, and Amelia®; and with a strong presence in the fast-growing segments; occupying the #1 position in greek yogurt, spreadable, fresh and grated cheeses, and #2 in yogurt.
In addition, Vigor has a consolidated infrastructure of more than 3,900 employees, 3 milk collection centers, 9 production plants, 19 distribution centers and serves more than 47,000 points of sale, with a strong presence in the states of Sao Paulo, Minas Gerais and Rio de Janeiro.
Vigor reported net sales and EBITDA of R$ 2,295 million and R$ 123 million, respectively, in 2016. The estimated revenues for 2017 are R$ 2,407 million of net sales and an EBITDA of R $190 million, a 7.9% margin.
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Please click on the following link for a PDF file containing the full text of the press release:
GRUPO LALA FINISHES THE SALE OF 50% OF ITAMBÉ
Please click on the following link for a PDF file containing the full text of the press release in Spanish:
GRUPO LALA FINALIZA LA VENTA DEL 50% DE ITAMBÉ
About LALA
Grupo LALA, (BMV: LALA), Mexican company focused on healthy and nutritious foods, has a history of more than 65 years of experience in the production, innovation and marketing of milk and dairy products under the highest quality standards. The Company operates 32 production plants and 176 distribution centers in Mexico, United States and Central America, supported by more than 38,000 employees. Grupo LALA's fleet of approximately 6,500 vehicles distributes its more than 600 products to nearly 500,000 points of sale. LALA's portfolio is led by its two main brands: LALA® and Nutri Leche®.
Source: Grupo LALA,