VIGOR Alimentos S.A., one of the largest milk producers and processors in Brazil, announced last week that the Brazilian antitrust authority has approved Vigor's acquisition of 50% of Itambe Alimentos S.A.
The deal represents an investment of 410 million reals ($207.2 million). Terms were announced earlier this year (Feedstuffs, March 4).
Vigor said the acquisition expands its presence in important states such as Minas Gerais and in northeastern Brazil, where Itambe already has a significant presence and a diversified portfolio that includes condensed milk, milk powder, yogurt and requeijoes (cheese spreads).
The company said it will be able to provide Itambe with a consistent and large volume of high-quality milk to maximize its operations and continue to grow nationwide.
Vigor was established following JBS S.A.'s acquisition of Bertin S.A. three years ago (Feedstuffs, Jan. 11, 2010).