France’s Lactalis Buys Italian Cheesemaker Ambrosi

MILAN – French dairy group Lactalis has bought Ambrosi from Switzerland’s Emmi (EMMN.S) and the family that founded the Italian cheese maker, Emmi said in a statement on Monday.

The groups did not disclose the purchase price but a source told Reuters that the deal gives Ambrosi an enterprise value of about 300 million euros ($307 million) and allows Lactalis to widen its product range and create several production synergies.

Lactalis has expanded in recent years and bought Italian dairy group Parmalat in 2011. The family-owned group counts many household names such as France’s brie cheese maker President and Italy’s mozzarella producer Vallelata among its brands.

To read the rest of the story, please go to: Reuters