Grupo Lala concludes purchase of Brazilian company Vigor Alimentos

lala-concluye-compra-de-vigor

Grupo Lala announced that it has completed the acquisition of 99.9 percent of the shares of Brazilian dairy company Vigor Alimentos and 50 percent of Itambé Alimentos, for an implicit value of five thousand 25 million reais (29 thousand 394 million pesos, approximately).

The dairy firm said it expects the Cooperativa Central dos Productores Rurais de Minas Gerais Ltda (“CCPR”, for its acronym in Portuguese) to exercise its right to acquire 50 percent of the remaining shares of Itambé, belonging to Vigor, implied net of the transaction would be four thousand 325 million reais.

The group’s CEO, Scot Rank, pointed out in information sent to the Mexican Stock Exchange (BMV) that “Lala and Vigor are a solid combination to build a leading company in Brazil, as they have the scale, portfolio, innovation and talent needed”.

Lala said that the transaction was financed with a 25.229 billion pesos bridge loan with banks JP Morgan, BBVA Bancomer and Santander, while the bridge loan refinancing will be through long-term debt and a possible bond issue.

Vigor’s estimated revenues for 2017 are 2 thousand 407 million reais in Net Sales and Ebitda in 200 million reais, with a margin of 8.3 percent.

By:

Source: Notimex

Link: http://www.notimex.gob.mx/ntxnotaLibre/437389

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