Lactalis French group will take over the largest dairy company in Alba county, after concluding an agreement with the Romanian company’s shareholders.
“Lactalis has concluded an agreement with the vendor shareholders,Albalact Alba Iulia (ALBZ), holding 70.3% of aggregate Albalact capital (…) with the aim of acquiring all the shares held by them,” Albalact informs in a release.
The shareholders are Raul Ciurtin, Lorena Beatrice Ciurtin, Crisware Holdings Limited, Croniar Holdings Limited and RC2 (Cyprus) Limited.
They have agreed to sell their stakes, totalling 70.3%, in a takeover bid to be launched by Lactalis to take over 100% of Albalact.
Following the Albalact announcement, the company shares on the Bucharest Stock Exchange have increased by 14.8%, close to the maximum allowed in a session, to RON 0.38 per share.
In 2008, Lactalis had taken over LaDorna for about EUR 80-90 million, hotnews.ro informs.
Albalact – Alba Iulia is the largest locally owned company in the dairy industry. Established in 1971, Albalact was turned into a stock company in 1990 and was privatized in 1999. Albalact has Romanian majority shareholders and the shares issued by Albalact are traded at the standard category of the Bucharest Stock Exchange (BVB).
Albalact holds 99.01% stake in Raraul Campulung and 100% of Albalact Logistic SRL, has more than 1,000 employees in all three companies. Albalact owns the brands Zuzu, Fulga, Raraul, Albalact and Poiana Florilor.
Lactalis owns the brands President, Parmalat, Galbani. The Group currently employs 75,000 people and has over 200 factories located in 43 countries worldwide. In 2015, Lactalis Group had a turnover of EUR 17 billion.