Parmalat Acquires Gourmet Cheese Maker Balkis in Brazil
05 Aug 2013 --- Parmalat S.p.A., through its Lactalis do Brasil subsidiary, acquired the Brazilian company Balkis Indústria e Comércio de Laticínios Ltda, with headquarters in São Paulo.
With this transaction, the Parmalat Group acquires a portfolio of activities in the segment of typical gourmet cheeses in the São Paulo area, including two production facilities in Santo Antônio do Aracanguá and Juruaia.
In 2012, Balkis reported net revenues of about 45 million reais (about 16 million euros).
The price was set at about 70 million reais (about 24 million euros) and may be adjusted based on accounting reviews at the date of closing; the contract includes the customary representations and warranties by the sellers.
The Committee for Related-party Transactions of Parmalat S.p.A. has already rendered a nonbinding opinion in favor of Lactalis do Brasil completing the acquisition, having been designated to that effect by B.S.A. International S.A., the original contracting party.
