Aspen Pharmacare sells its infant formula business

French dairy group Lactalis has announced an agreement to acquire the infant formula business of South African group Aspen Pharmacare for €740 million. With this operation, Lactalis is aiming to expand in three strategic areas: Latin America, Sub-Saharan Africa and the Asia-Pacific region.

Aspen’s Nutritionals Business (1,100 employees) has three production sites (Mexico, New Zealand and South Africa) and operates under the Alula and Infacare brands. The acquisition is expected to be completed within Q1 2019, enabling the French group to increase its annual revenue by €241 million.