October 9, 2018 / 8:24 AM / 8 days ago

Lactalis buys Nestle Malaysia's chilled dairy business in $40 mln deal

PARIS, Oct 9 (Reuters) - Lactalis, the world's largest dairy firm, said it had agreed to buy the chilled dairy business of Nestle in Malaysia in a deal worth around $40 million.

Nestle Malaysia said earlier that it expected the sale to Lactalis for 155.3 million Ringgit ($37 million) to result in a one-time gain of about 27 million Ringgit over 2018 and 2019.

Nestle's chilled dairy business in Malaysia generates revenues of 21 million euros ($24 million), said Lactalis, which is a privately-held French company.

The deal, which will take effect next January, follows the earlier acquisition by Lactalis of the Stonyfield organic yoghurt brand from Danone and the purchase of siggi's, a U.S.-based maker of Icelandic yoghurt.

Lactalis was at the centre of an earlier health crisis when a salmonella outbreak at a Lactalis milk factory last year led to dozens of babies falling ill.

($1 = 4.1550 ringgit)

$1 = 0.8714 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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