Good time to check into the dairy biz
Steve’s breakdown: Lactates, owners of Galbani, Parmalat and Stonyfield Farm, just bought siege’s yogurts. A hearty congrats is in order and we suspect you’ll have a long conversation. These folks are just like that.
NEW YORK & BUFFALO, NY: It has been announced that Lactalis, a dairy company whose brand of products includes Galbani, Parmalat and Stonyfield Farm among others has acquired siggi’s for an undisclosed amount.
Icelandic style skyr yogurts company, siggi’s will continue to operate out of its New York City office and remain as a standalone company under its current leadership team, which includes its founder and CEO, Siggi Hilmarsson and Bart Adlam as president.
“We’re excited to join the Lactalis family which offers the opportunity to further fuel our growth,” Siggi Hilmarsson, said. “Our core values of clean ingredient label and less sugar will remain 100 percent unchanged. Consumers everywhere are actively trying to reduce sugar in their diets so our offering has a global relevance.”
J.P. Morgan Securities acted as exclusive financial advisor and The Giannuzzi Group acted as legal counsel to siggi’s. Dentons US acted as legal counsel to Laval, France-based Lactalis Group on the sale.
“We are delighted to welcome siggi’s to the Lactalis Group, which further expands our yogurt platform in the U.S. with this unique and fast-growing yogurt brand. We look forward to supporting siggi’s as it continues to bring its retail partners exceptional dollar growth in the yogurt category,” Emmanuel Besnier, president of the Lactalis Group, said.