Parmalat

Parmalat

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 yogurt, 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 Borsa Italiana.