Grupo Lala on acquisition trail
Mexican dairy company Grupo Lala planning to acquire Breakstone’s sour cream and cottage cheese business from US giant Kraft Foods according to Bloomberg News. The Breakstone’s portion of Kraft is worth $400 million. Kraft began to seek a buyer for the Breakstone’s business after it formed two independent public companies through a tax-free spinoff of its N
orth American grocery business on 1 October 2012.
The North American grocery business, known as Kraft Foods, includes US beverages, cheese, convenient meals and grocery segments and the non-snack categories in Canada and food service, and its own brands such as Velveeta, Miracle Whip, Maxwell House and Oscar Mayer.
Grupo Lala is also seeking to acquire Morningstar Foods, a producer milk products for retailers and restaurants, from US food and beverage company Dean Foods, in a deal which is likely to be valued at more than $1bn.
