Arcor and Danone have advanced in the joint acquisition of the remaining 51% of Mastellone Hermanos, owner of La Serenísima, securing full control of the company. The deal, executed through Bagley Argentina, involves creating a joint venture to integrate their dairy businesses. The agreement awaits regulatory approvals.
In a key deal for Argentina's dairy sector, Arcor and Danone purchased the remaining shares of Mastellone Hermanos held by the founding family and the Dallpoint fund. This gives them 100% control of the company, owner of the La Serenísima brand, ending a process started over a decade ago amid disputes over the purchase option price and terms after they already held nearly 49%. Final closure depends on regulatory approvals and corporate conditions. The agreement includes forming a joint venture uniting Mastellone operations, Danone's dairy business in Argentina, and Logística La Serenísima's distribution network. This setup covers production, logistics, and commercialization, with eleven regional plants and a portfolio including milk, cheeses, butter, dulce de leche, yogurts, and desserts. Danone CEO Antoine de Saint-Affrique stated the deal takes their alliance 'to the next level' to 'bring healthy, quality dairy brands to more consumers in Argentina, today and in the future.' Grupo Arcor president Alfredo Pagani noted the joint venture 'will leverage the commercial capacity, operations, processes, and best practices of both companies to accelerate growth through a unified strategy for developing differentiated products.' The partnership extends their Bagley Latinoamérica venture, started in 2005, into the competitive local dairy market.
