Argentina: Parmalat completes acquisition of Lactona

Parmalat is finishing details to acquire in Argentina the dairy products Lactona, and will kept in the market its trademark Gandara. The company, that after the acquisition will post sales of US$200mil in Argentina, believes that the Brazilian crisis will end up by October - November, and is not to hinder its business. In an unrelated move Parmalat is expanding the number of its ice cream shops from 3 to 15, with each shop absorbing investments of Pesos$230,000.

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Source: La Nacion Page: 1 Date: February 23, 1999 Country: Argentina Product: Dairy Products Company: Parmalat ; Lactona Event: Strategy and Planning SABI (South American Business Information)