Arcor and Danone Bid for La Serenísima Faces Rejection
Source: dairynews.today
Arcor and Danone's offer to acquire 100% of Argentina's leading dairy company, La Serenísima, has been rejected by the majority stakeholders, the Mastellone family and Dallpoint fund.
In an ambitious move, Arcor and Danone declared their intent to purchase the entirety of La Serenísima, Argentina's largest dairy company generating US$ 1.4 billion in sales across 2024.
Despite being a delicate proposal ordered from Paris, the offer, intended to capitalize on a prior 2020 acquisition of 49%, was met with resistance. The rejection, announced by stakeholders including the Mastellone family and fund Dallpoint which together hold 51%, underscores the complexity of negotiations hinged on valuation disagreements.
La Serenísima, equipped with eight production plants and employing 3,400 staff, stands as a key player in the Latin American dairy industry. The potential merger would see Danone and Arcor sharing ownership, catalyzing further shifts in the dairy market as they navigate past antagonisms and establish a foothold amidst emerging global company trends.
Despite being a delicate proposal ordered from Paris, the offer, intended to capitalize on a prior 2020 acquisition of 49%, was met with resistance. The rejection, announced by stakeholders including the Mastellone family and fund Dallpoint which together hold 51%, underscores the complexity of negotiations hinged on valuation disagreements.
La Serenísima, equipped with eight production plants and employing 3,400 staff, stands as a key player in the Latin American dairy industry. The potential merger would see Danone and Arcor sharing ownership, catalyzing further shifts in the dairy market as they navigate past antagonisms and establish a foothold amidst emerging global company trends.
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