Parmalat Purchases The Business Operations of Latterie Friulane
06 Jan 2015 --- Parmalat S.p.A. purchased from Consorzio Cooperativo Latterie Friulane S.C.A. business operations encompassing the activities engaged in the production, sales and distribution of dairy products (pasteurized and UHT milk, yogurt, Montasio cheese, mozzarella and ricotta cheese), including the brands (Latterie Friulane, Latte Carnia, SILP, San Giusto, Castello and Cometa), the production facility and offices in Campoformido (Ud), buildings in Ponte Crepaldo (Ve), San Martino (Pn) and Monfalcone (Go), and the existing contracts.
Employees will be simultaneously transferred and currently the company has 156 employees.
This transfer will be effective as of January 1, 2015. In 2013 the company reported revenues of about 53.0 million euros, the estimate for 2014 is about 37.0 million euros. This transaction was executed by assuming a net invested capital for about 5.75 million euros and a bank debt for the same amount. Parmalat will continue to carry out and will expand the activities of Latterie Friulane, an entity with deep roots in its host community, by implementing a plan designed to regain competitiveness and keep in operation the Campoformido production facilities and those that manufacture DOP (Protected Designation of Origin) products, while continuing to source raw milk locally in the Friuli region.
This transaction, which is subject to certain conditions subsequent, has been notified to the Italian Antitrust Authority.
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