French assault on dairy market: Bongrain takes a bite of Delaco

Just two years after giant Lactalis paid between 80 and 90 million euros for dairy producer LaDorna, controlled by businessman Jean Valvis, Bongrain group, with 3.5 billion euros in turnover, became a shareholder of Delaco distributor by an increase in the share capital of the Brasov-based company.

Representatives of the two companies did not, however, reveal the stake taken over by Bongrain or the value of the transaction.

“Delaco reached a collaboration agreement with Bongrain, one of the largest players on the world’s diary market. Having bought share capital, Bongrain will become a Delaco shareholder,” announced Delaco representatives in a press release, adding that the transaction would be sent to the Competition Council for analysis.

Representatives of the Brasov company did not answer ZF’s request for further details by the time this issue was ready for print.

Delaco, founded in 1996 by Tudor Comaniciu, is one of the largest players on the Romanian dairy market, and posted 50 million euros in turnover two years ago.