10 October 2008 - French food group Sill will acquire milk powder producer Laiterie de Saint-Malo for an undisclosed sum.
FLEXNEWS had initially reported that the companies were in talks in mid-July.
Thanks to the acquisition, Sill's turnover for 2008 should amount to 320 million euro and will have a workforce of around 800 in 6 sites.
“Our companies complement each other, this merger should strengthen both family-owned businesses,” Sill Managing Director Gilles Falc’hun was quoted as saying.
Sill started off as a dairy company and later diversified into fruit juices (Sill Plein Fruit), ready meals (Primel) and soups (la Potagère). The 650-employee strong company reported a turnover of 250 million euro in 2007.
Best known locally for its Malo brand of yoghurts, Laiterie Saint-Malo also produces 20,000 tonnes of milk powder for the global confectionery industry. Laiterie Saint-Malo is understood to have a 20% share of the world market for the product.
The company employs 120 staff and last year reported an 85 million euro turnover, half of it accounted for by exports.