Parmalat to buy 11 dairy plants from Brazil's BRF for 610 mln euros

jueves 4 de septiembre de 2014 01:24 GYT

MILAN, Sept 4 (Reuters) - Italian food group Parmalat will buy 11 dairy division plants owned by Brazil's BRF in a deal valued at 610 million euros, the company said on Thursday.

In a statement, Parmalat said it had executed a binding memorandum of understanding for the purchase of dairies from BRF.

Last year the dairy division of the Brazilian firm, one of the country's top food companies, reported proforma revenues of about 880 million euros, Parmalat said in the statement. (Reporting by Oleg Vukmanovic; Editing by Himani Sarkar)