Parmalat may be acquisition target, says CEOThis article was originally published in Dairy Markets
Italian dairy giant Parmalat may become an acquisition target before it spends a cash chest of over €1 billion, said its chief executive Enrico Bondi. Bondi told analysts in Milan that the multinational is re-examining its acquisition strategy after the market turmoil and consumer crisis that started in the second half of last year. He said the company is looking at opportunities in Australia, as the market leader there divests, and in sub-Saharan Africa. He declined to elaborate further, said the financial news service Bloomberg.