French dairy company Lactalis has acquired Italian cheese maker Nuova Castelli from private equity firm Charterhouse Capital Partners.
The deal sees Lactalis, through its Lactalis Group Italia subsidiary, further expand its comprehensive portfolio in Italy, which now includes Parmalat, Galbani, Invernizzi, Vallelata, Locatelli and Cademartori.
Headquartered in Reggio Emilia, Nuova Castelli is focused primarily on Italian protected designation of origin cheese products such as parmigiano reggiano, grana padano and gorgonzola.
The business employs more than 1,000 people at approximately 20 facilities in Italy and overseas.
London-based Charterhouse acquired Nuova Castelli in 2014 from its founder. Charterhouse said that under its ownership, Nuova Castelli has grown its international footprint, established new relationships with retailers and experienced further growth, including the acquisition of Alival in Italy, North Coast in Poland and Empire Speciality Cheese in the US.
Lactalis – the owner of brands such as Président, Stonyfield Farm and Rachel’s Organic – has an annual turnover of around €18.5 billion, with cheese making up a third of its business.
Earlier this year, the company grew its business in Asia with the acquisition of Indian dairy company Prabhat.
© FoodBev Media Ltd 2019