For Lactalis of Brazil acquires Balqis for about $ 70 million

The for Lactalis of Brazil, a subsidiary of Parmalat S.p.A., acquired the Brazilian dairy Balqis, gourmet cheese maker, reported today the company in a statement.
With the transaction, the Parmalat Group acquires two cheese plants in the cities of Santo Antônio do Aracanguá (SP) and Juruaia (MG).
The acquisition, the first of the group in Brazil, was closed for about $ 70 million. The value can be adjusted on the basis of accounting revisions at the close of the operation, according to the statement.
Last year, the Balqis recorded net revenue of about $ 45 million.
Magma Consulting Brazil participated in the operation as financial advisor and Azevedo Sette Advogados offices as legal advisor of the sellers and the Aguilar and Policastro buyer's side bar.