Arla sells its share in Vigor
The company has decided to divest its eight per cent share in the company
"Arla has operated in the Brazilian market for decades, however a co-ownership of Vigor no longer serves our strategic purpose"
Brazil’s leading dairy company Vigor Sa. has been sold by majority shareholder Jbs Sa. to Mexican dairy company Grupo Lala Sab. de C.V.
In connection with this transaction, Arla Foods has sold its eight per cent share in Vigor to Lala. “Arla has operated in the Brazilian market for decades, however a co-ownership of Vigor no longer serves our strategic purpose. Our decision to divest is the best solution for Arla as we continue to focus our strategic investments on creating sustainable growth through our business in Asia, Africa, the Middle East and USA,” says executive vice president in Arla Foods, Tim Ørting Jørgensen, who is responsible for Arla’s international business.
Vigor is the largest dairy company in Brazil. In 1986 Arla entered a 50/50 joint venture partnership with Vigor under the name Dan Vigor, which consisted of local cheese production under the Danubio brand. In 2014, Arla exchanged the joint ownership of Dan Vigor for an eight per cent share in Vigor. Further terms and conditions of the transaction are not disclosed.
Arla Foods is an international dairy company owned by 11.200 farmers from Denmark, Sweden, the Uk, Germany, Belgium, Luxemburg and the Netherlands. Arla Foods is one of the strongest players in the international dairy arena, with a wide range of dairy products of highest quality. Well-known brands like Arla, Lurpak and Castello belong to the Arla family. Arla Foods is also the world's largest manufacturer of organic dairy products.
© EFA News - European Food Agency Srl