Portuguese dairy company Lactogal, known for brands such as Mimosa, Primor, and Agros, has announced the acquisition of Queijos Santiago.
This deal encompasses all of Queijos Santiago's brand portfolio, three factories (in Montemuro, Palmela, and Portalegre), and logistics operations (in Venda do Pinheiro), according to media reports.
The financial details remain undisclosed, and the acquisition requires approval from Portugal's competition authorities.
Lactogal intends to maintain Queijos Santiago's current management structure, the report found. Currently, Queijos Santiago is led by João Santiago, president of the company's board of directors.
Complementary Business
This move strengthens Lactogal's presence in the cheese category. They view Queijos Santiago as a strategic, complementary business, as it aims to create a more diverse and competitive product portfolio for the domestic and Iberian markets.
Queijos Santiago’s product portfolio includes fresh, sliced, cured, and regional cheeses, all produced from 100% Portuguese milk.
Lactogal reported revenues of €825 million last year, while Queijos Santiago closed 2023 with a turnover of €63 million.
Lacticínios do Paiva Gets New Owner
The acquisition is the second in the sector in Portugal in the space of a week.
Earlier this week, French multinational Lactalis, owner of Parmalat Portugal, announced the purchase of the Sequeira & Sequeira group, owner of cheese producer Lacticínios do Paiva.
The deal also included the group's distribution operations in Portugal, Cape Verde, and Mozambique, as well as two factories in Portugal.
Miguel Romão, director general of Lactalis Portugal, said that the deal will enable Lactalis to develop and sell more Portuguese cheese, complementing its existing dairy offerings.
Additionally, the acquisition, subject to competition authority approval, will strengthen Lactalis's distribution network and its ability to export Portuguese dairy products.
Lacticínios do Paiva is known for various kinds of cheese, including flamengo, cured, and fresh varieties, all under the popular Paiva brand.
