Brazilian dairy products maker Vigor Alimentos has acquired 50% stake in rival local dairy co-operative Itambe for BRL410m ($208.3m).
Itambe procures milk from 31 individual members in the states of Minas Gerais, Goias and Sao Paulo.
With four facilities in Minas Gerais and one in Goiás, besides ten distribution centers, Itambe processes around three million tons of milk annually.
The transaction is expected to bolster Vigor's presence in key markets such as Minas Gerais, Rio de Janeiro and in the northeast region.
The deal is subject to customary conditions, including the approval of the Administrative Council for Economic Defense.
Source:
http://www.drinks-business-review.com/news/dairy-products-maker-vigor-buys-50-stake-in-brazilian-rival-itambe-250213
