Parmalat SpA, through its LAG Holding Inc., has acquired dairy companies Karoun Dairies Inc. and Central Valley Cheese Inc. The enterprise value of the two targets is about $130 million.
Karoun, founded in 1990 and located in San Fernando, California, sells yogurts and cheeses under the Queso Del Valle, Gopi and Yanni brands. As part of the deal, Parmalat is also gaining Karoun's Central Valley Cheese subsidiary located in Turlock, Caifornia. The two businesses generated around $55 million in combined revenue in 2016. Lincoln International advised the target.