Lactalis, the privately owned dairy group, has sold its factory in Argentina.
Financial details of the deal and the buyer were not disclosed.
In a brief statement, a Lactalis spokesperson said: “This small site makes cheese for the B2B market. It was part of an acquisition made in Mexico. This site was sold to a local Argentine actor.”
Lactalis is present throughout the American continent, with operations in most of Latin America.
In December, the company decided to buy the assets of the joint venture in Brazil owned by Fonterra and Nestlé.
Lactalis reached an agreement with Dairy Partners Americas (DPA) for BRL 700 million (then US$131.5 million). Fonterra had a 51% stake in the company created in 2003 and Nestlé 49%.
In an annual ranking of the world’s largest dairy companies by sales in August, Dutch financial services group Rabobank placed Lactalis first, ahead of Nestlé and Danone.
Earlier this week, official government figures showed that annual inflation in Argentina had reached 102.5% in February, meaning that the price of many consumer goods has more than doubled since February 2022. It is the first time it has exceeded 100% since the days of hyperinflation in the early 1990s.