Parmalat S.p.A. has announced the appointment of Craig Garvin to the role of Chief Executive Officer of Parmalat Australia. Mr Garvin replaces Fabio Genitrini who, in June this year, took over from David Lord when he resigned after eight years as CEO. “Within the Australian marketplace, Mr Garvin has a strong FMCG background in well known branded companies and hospitality industry,” the Italian dairy firm said in a statement. His appointment is effective starting from 11 January, 2010.  Read More →

Dairy group Parmalat has reported revenue growth of 1.7% in the first nine months of 2009, with higher prices helping to boost sales. The Italian-based firm reported “positive results” in Australia, with EBITDA more than doubling. “Stated in Australian dollars and without counting the revenues related to the assets acquired in the third quarter (52.5 million), net revenues increased 0.6%, rising from $565.9 million in the first nine months of 2008 to $569.3 million in the same period... ...Read more »

Parmalat S.p.A. has finalised their settlement with the Bank of America after a long running battle in the wake of Parmalat’s 2003 collapse. The Italian dairy firm received US$98.5 million (A$112.5m) on October 2 following allegations that the Bank of America had sold Parmalat bonds while well aware that the company was under severe economic stress. The bank refutes the claims, with the case now closed before it ever reached court.  Read More →

South Australia’s milk vendors will be able to negotiate in groups with National Foods and Parmalat for another five years under an authorisation granted by the Australian Competition and Consumer Commission. Milk vendors are small businesses that on-sell dairy products from dairy processors or transport dairy products for them. The ACCC has authorised the Transport Workers Union of Australia SA/NT Branch to engage in collective bargaining negotiations with National Foods and Parmalat on behalf... ...Read more »

Italian dairy firm Parmalat has seen profit fall as a result of decreased proceeds from legal proceedings relating to their 2003 collapse, while revenues were hurt by foreign exchange rates. Restated at constant exchange rates, however, Parmalat saw sales rise by 2.6 per cent in the first half. Savings from lower raw milk costs helped offset competitive pressures, the company said. “During the first six months of 2008, the Group continued to face strong competitive pressure from private labels,”... ...Read more »

Dairy firm Parmalat this week competed the $70 million purchase of assets from National Foods, which will boost their revenues in Australia by around 26 per cent. The transfer of 12 National Foods depots in the NSW and ACT and 13 Dairy Farmers depots in South Australia, as well as the Lidcombe processing plant was made on Monday. The maker of Pauls milk also receives a 2 year licence to manufacture, distribute and sell the Daisy Fresh and Pura range of fresh white milk in NSW and the ACT along with... ...Read more »

The Australian Competition and Consumer Commission proposes to allow the Transport Workers Union of Australia SA/NT Branch to represent South Australian milk vendors in contract negotiations with dairy processors National Foods and Parmalat. Under the ACCC’s proposed decision, the TWU would bargain collectively* on behalf of vendors. The vendors buy milk from the processors to sell to shops and home-delivery customers or deliver it to major retailers, such as supermarket chains, for a fee from... ...Read more »

Italian-based dairy business Parmalat has today received regulatory approval for their proposed $70 million purchase of a number of the dairy assets held by National Foods. The Australian Competition and Consumer Commission advised that they would not oppose the deal, which was brought about due to the takeover of Dairy Farmers last year by Kirin subsidiary National Foods. The manufacturing operations had combined revenue of around $200 million in the twelve months to 30 June 2008, with tangible... ...Read more »

Reports are circulating in the European press that the world’s largest yoghurt maker Danone could make a play for Italian dairy firm Parmalat. Parmalat’s share price soared overnight as rumours swirled in the wake of a 3 billion euro (A$5.4b) capital raising by Danone earlier this week. The French company indicated the money would be used to pay down debt and/or make acquisitions and, given Parmalat’s market capitalisation is around the exact amount they raised, it has ensured speculation... ...Read more »

National Foods has announced that Parmalat will purchase some of their fresh milk manufacturing operations in New South Wales and South Australia after the competition watchdog requested divestments from the dairy firm when they purchased Dairy Farmers last year. The deal, which is subject to the approval of the Australian Competition and Consumer Commission (ACCC), will see Parmalat acquire a portfolio of fresh milk assets across the two states, licences to market brands and distribution networks... ...Read more »