Lactalis subsidiary, Italy-based Parmalat, has acquired a group of Central and South American cheese businesses for $105 million, however if net debt for the group exceeds $48 million, the deal price may be adjusted accordingly. The network includes a plant in Mexico, two in Uruguay, one in Argentina, and a 20-site distribution network across Mexico. The deal will also give Parmalat control of a portfolio of brands including El Ciervo, Mariposa, Esmerelda, and La Campesina Holandesa. In 2013, the group of businesses recorded revenue of approximately $197 million.
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