Italy's Galbani sold by BC Partners to France's Lactalis

MILAN (AFX) - Italy's cheese and salami group Galbani has been sold by private equity firm BC Partners to France's privately owned Lactalis group, according to a statement from Lactalis.

In 2002, BC Partners paid 1.015 bln eur to acquire Galbani from Danone. Lactalis did not give a price for the latest deal.

"The sale of Galbani to a foreign group will allow for international development (of the company)," said Galbani chairman Maurizio Manca, cited in the Italian newspaper Il Sole 24 Ore on Sunday.

During the 2002-2005 period, Galbani's EBITDA has risen 32.6 pct to 205.1 mln eur, while sales rose 4 pct to 1.3 bln, Il Sole said.

Lactalis has been cited has a possible buyer of Parmalat SpA, the dairy group which collapsed in December 2003, but which returned to the bourse last year. Nigel Tutt; [e-mail] nt/nt/ak

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