July 10, 2019 / 10:38 PM / 12 days ago

Lala, Lactalis end litigation, French group acquires Brazil dairy producer Itambe

SAO PAULO, July 10 (Reuters) - French and Mexican dairy groups Lactalis and Grupo Lala SAB de CV reached an agreement to end litigation in Latin America, allowing Lactalis to conclude the acquisition of Brazilian dairy producer Itambe, Lactalis CEO for Latin America Patrick Sauvageot said on Wednesday.

In an interview with Reuters, Sauvageot said Lactalis and Lala ended litigation in Brazil regarding the Itambe acquisition and in Mexico regarding the use of certain brands. Lactalis concluded on Wednesday the acquisition of Itambe and will now process 2.3 billion liters (607 million gallons) of milk a year. Lactalis expects its revenue in the country to rise to 8 billion reais ($2.13 billion). ($1 = 3.7543 reais) (Reporting by Tatiana Bautzer Editing by James Dalgleish)

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