Overview
- Bagley Latinoamérica, which closed the purchase Tuesday, now holds 100% of Mastellone Hnos., the company behind the La Serenísima brand.
- The owners will run an integrated joint venture that combines Mastellone’s plants, Danone’s Argentina dairy categories, and Logística La Serenísima into a single operation.
- The price was not disclosed after a year of hard bargaining marked by a wide valuation gap, with sellers seeking about $250 million for the 51% stake and initial offers near $40 million.
- Talks skirted a legal fight due to a contract under Spanish jurisdiction, and the parties settled out of court to avoid arbitration.
- Gonzalo Gebara has been named CEO as governance changes move ahead, with the market watching whether the consolidation can lift margins after Mastellone posted a 2025 loss tied to high costs and weak demand.