MADRID (AFX) - The Carulla family's holding company Agrolimen has acquired Italian food group Star, La Gaceta de los Negocios reported, citing Agrolimen CEO Artur Carulla.
The Carullas used another subsidiary Pasa -- which manages leading condiments brands such as Gallina Blanca and Avecrem -- to carry out the deal, the newspaper said.
It added that Star's owners, the Fossati family, have exchanged their assets for 50 pct of Pasa.
La Gaceta cited Carulla as saying: 'We are very proud to be teaming up with the (Fossati family's investment vehicle) Findim in this new project.'
He added that the alliance will enable Pasa to expand worldwide 'through mergers and acquisitions.'
The Fossati family have been looking to sell Star for some time, La Gaceta said, noting that 800 mln eur had been slated as a price at around which they would be willing to close a deal.
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