Italian food and dairy giant Parmalat has said it has bought the South African cheese unit of Unilever Bestfoods for around €7.5m (US$8.5m).
Go deeper with GlobalData
Parmalat said it would not take on any debt as it acquires the Simonsberg and Melrose cheese brands and a production facility in Stellenbosch. Parmalat also agreed to purchase Unilever’s South African cheese stocks, which it said were worth around €1.7m.
Parmalat said the cheese unit generated the equivalent of almost €16m in the last financial year.
