Danone confirms Galbani sale

EUROPE – French food group Danone announced on Wednesday that it would sell the Italian Galbani cheese and ham subsidiary to UK buyout specialist BC Partners for 1.02 billion euro.

The deal comes after Italian food group Parmalat pulled out of talks earlier in the month.

BC Partners believes Galbani’s distribution network will allow it to introduce new products. It also plans to market the brand further outside Italy.

In its annual results last week, Danone wrote off the value of Galbani by