Lactalis Expands in Infant Nutrition With €740 Million Acquisition
Lactalis Group, the international dairy group based in Laval, France, is acquiring the Nutritional business of Aspen Pharmacare for €739.8 million (R12.9 billion). The business being acquired supplies a wide range of infant nutritional and growing-up milk products across both the premium and value segments. It manufactures and markets well established quality brands, including S-26, Alula and Infacare, in sub-Saharan Africa, Australia and Latin America.
The acquisition is in line with Lactalis Group’s strategy to develop a global infant nutritional business to complement its existing global product range. The deal will strengthen Lactalis Group’s presence in Latin America, Sub-Saharan Africa and Australia. Operating three production sites located in South Africa, New Zealand and Mexico, Aspen Nutrition employs 1,100 people and generated sales of US$280 million in 2018.
Stephen Saad, chief executive of Aspen Group, says: “The disposal is in line with our strategic intention to focus our attention on our core pharmaceutical business which includes the Anaesthetics, Thrombosis and High Potency & Cytotoxic portfolios. The heightened focus is expected to drive increased business efficiency and performance.”
