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France's Lactalis acquires Greenland Group

Wednesday 23 January 2019 02:04 PM

Greenland
Greenland


Al-Mal:
France-based dairy giant Lactalis has announced that it acquired Cairo-based Greenland Group for Food Industries from Middle East food company Americana Group.

The move for Greenland was conducted through Lactalis' joint-venture facility, Lactalis-Halawa, which was formed in 1997. Financial details were again not disclosed.
According to Lactalis, Greenland's main business operations revolve around cheese, with five production sites in Egypt employing 1,250 people.

In the statement announcing the deal, Lactalis said the acquisition will "strengthen" the joint venture's position as the "major" dairy products manufacturer in Egypt. The deal "testifies to the Lactalis Group's constant interest in developing the Egyptian market", the company noted.

Founded in 1995, Greenland produces cheeses, ghee, milk, juices and other fresh dairy products destined for foodservice channels, according to its website. The company exports to around 50 countries, including the US, the European Union, North Africa and the six-member Gulf Cooperation Council in the Middle East.




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