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Parmalat

Parmalat
Company nameParmalat S.p.A.
Company typeSocietà per azioni
IndustryFood processing
Founded1961
Founder(s)Calisto Tanzi
HeadquartersCollecchio, Italy
Key peopleRaffaele Picella (Chairman), Enrico Bondi (CEO)
ProductsMilk and dairy products, fruit juice, tea
Revenue-4.361 billion (2010)
Operating income-334.2 million (2010)
Net income-282.0 million (2010)
Total assets-4.644 billion (end 2010)
Total equity-3.532 billion (end 2010)
Employees13,930 (end 2010)

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Parmalat SpA is a multinational Italian dairy and food corporation. Having become the leading global company in the production of ultra high temperature (UHT) milk, the company collapsed in 2003 with a -14 billion ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Today, Parmalat is a company with a global presence, having major operations in Europe, Latin America, North America, Australia, China and South Africa.

Since 2011, it is a subsidiary of French group Lactalis.

Still specializing in UHT milk and milk derivatives (varieties of yoghurt, cheese, butter, ice cream, etc.), the group also has an interest in fruit juices. These products are distributed under well-known brand names such as Lactis, Santal, Malù, and Kyr. Its worldwide operations include almost 140 production centres and more than 36,000 employees, while 5,000 Italian dairy farms are dependent on the company for the bulk of their business. Its shares are listed on the Milan Stock Exchange.


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