Processing company that engages through its milk, dairy products, fruit beverages and other products business segments. Founded in 1961 by Calisto Tanzi, the company began as a family-run farm in Northern Italy and grew into one of the nation’s largest dairy and food companies, eventually becoming a multinational conglomerate. Due to failed financial ventures during the 1990s, Parmalat declared bankruptcy in 2003, with several employees implicated in a coverup of the firm’s debt. At the time, Parmalat owned 214 subsidiaries in 48 different countries.
The company restructured through extraordinary administration procedures, emerging as a new entity, Parmalat S.p.A, in 2005 and listing on the Italian Stock Exchange later that year. In 2011, the Lactalis Group secured a controlling interest in Parmalat with a successful takeover bid based on its 83 per cent share of Parmalat’s capital. Today, Parmalat generates over $7 billion in annual revenue and manages a direct presence in 24 countries. Parmalat has more than 26,000 employees and 93 production facilities.
- Family name: Besnier family
- Sector: Consumer Products & Retail
- Founded: 1961
- Founder: Calisto Tanzi
- Country: Italy
- Company headquarters: Collecchio, Italy
- Revenue: 7
- Employees: 27,425
- Website: parmalat.com
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