Lactalis €76 million acquisition of Albalact Alba Iulia

Overview:

• Lactalis has acquired Albalact Alba Iulia for €76 million.
• The deal sees Lactalis pay €0.1 per share and the company will be de-listed from the Bucharest Stock Exchange. 
• The transaction is one of the first significant voluntary takeover bids carried out on the exchange. 
• Albalact is one of the largest dairy producers in Romania. It was 41% owned by entrepreneur Raul Ciurtin and 25% by private equity fund RC2.
• Lactalis is a French dairy producer and the second largest food group in France behind Danone.
• Lactalis already has Romanian operations following the acquisition of La Dorna in 2008.
• The deal was announced in February 2016.

Sam Duke - Editor