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.

Parmalat, based Collecchio, Italy, is a dairy distributor of yogurt, milk and cheese products. The company is known for its Parmalat, Santal, Zymil, and Vadia brands.

Some recent food deals include: Palladium Equity Partners’ investment in Hispanic food producer Del Real Foods; Findus Spain’s purchase of La Cocinera, a Barcelona, Spain-based maker of chilled-dough products, from Nestle; Diaz Foods’ acquiring La Cena Fine Foods Ltd., a manufacturer of Caribbean food brands pasta, drinks and condiments; Grey Mountain Partners’ purchase of Mediterranean food maker Kronos Foods Inc.; and Ajinomoto’s $800 million purchase of Windsor Quality Holdings LP, a maker of nacho bites and other appetizer frozen foods. Dealmakers and expect food and beverage M&A to remain robust.