Italian Company Buys Parmareggio
Italian dairy company Granterre Unigrana has bought a majority stake in the local cheese producer Parmareggio Spa from French dairy group Entremont Fromager. Granterre Unigrana made the acquisition through its subsidiary Terre d'Emilia Spa. Parmareggio specializes in the production of Parmigiano Reggiano cheese. The company posted a turnover of $85.3 million in 2003, 20% pct of which was generated abroad.