Confectionery and bakery firm Arcor, through its subsidiary Bagley Argentina, has invested $60 million for a 25% stake in Mastellone Hermanos, the firm behind dairy company La Serenisima.
La Serenisima branded products include milk, butter, caramel, yoghurt and yoghurt drinks and cheese.
According to an article in La Voz, the transaction will enable Mastellone to invest in its production facilities in General Rodriguez, Trenque Lauquen and Villa Mercedes, and also to begin processing liquid milk to be distributed in central and northern Argentina. In addition, the partnership is said to enable Arcor to enter the dairy market and leverage its existing relationship with major retail chains.
While the agreement gives Arcor the option to acquire the remainder of Mastellone Hermanos’ shares between 2020 and 2025, an Arcor spokesperson is quoted as saying: “We do not intend being part of Mastellone’s operations and no Arcor employees will be transferred. This is solely a shareholder investment”.
Source: La Voz / La Nacion / Mastellone Hermanos