Colombia’s third-largest dairy company, Alpina SA, plans to buy a yogurt maker in the US in the first half of 2008 and has identified possible takeover targets in Connecticut, New Jersey and New York.

Alpina, one of Colombia’s most recognisable dairy brands, wants to cater to the large Latino community on the east coast by offering fresh, locally produced products.
The company will finance the acquisition with the sale of bonds in the local market, a first for the company. So far, the 52-year-old dairy has managed to finance its growth through bank loans and its own cash.
The expansion in the US is part of wider expansion plans for Alpina, which recently bought Ecuadorian cheese maker Proloceki S.A. and last month completed the acquisition of the local assets of a Dutch company. “Ecuador offers a tremendous growth potential as Ecuadorians consume about 40 kilograms of milk per year, while in Colombia (milk consumption) is around 70 to 75 kilograms per year,” says CEO Julian Jaramillo says. Alpina concluded the acquisition of the local unit of Netherlands-based Royal Friesland Foods in November, after the Colombian anti-trust agency gave its green light.
The Bogota-based company plans to spend an additional $250 million (