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Granarolo Acquires Dairy Giant, Lat Bri

07 September 2011

ITALY - One of the most important agro-industrial groups in Italy, Granarolo has increased its presence in the dairy products industry through the acquisition of the third largest producer of fresh cheeses in Italy, Lat Bri.

The operation, which will basically pay for the company's €60 million debt (a figure that will be confirmed at the end of the transitional period of rent of a business), involves the purchase by Granarolo of all activities on the production and marketing of fresh dairy products of Lat Bri, allowing the Group to increase its presence in the field of fresh cheeses and the range of products offered to the market.

It is expected that Granarolo's management of Lat Bri activities could generate a turnover of around €150 million a year, doubling the turnover of the segment of Granarolo cheese so it will exceed €300 million (€160 million were in 2010).

Similarly, the acquisition of Lat Bri, will bring a significant share of exports (amounting to approximately €40 million) which will allow a significant increase in Granarolo's presence abroad, benefiting from the strong presence of Lat Bri in the field of retail distribution and integration with new product lines which will expand the Group's offers abroad.

Granarolo can also count on the technological industrial structure of Lat Bri; the establishment of Usmate Velate (Monza) was in fact subject of recent important investments that can ensure very high production standards. In 30,000 square feet, Lat Bri can process around 40,000 tons of products, mainly mozzarella, ricotta, mascarpone and simmilar fresh cheeses.

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