The EUR 630million ($801.2 million) deal will give Lactalis – already Europe’s largest dairy group - a strong foothold in the Spanish market, while Ebro will concentrate on developing its packaged meals business.
The proposed Puleva Foods buy out is the latest in a string of acquisitions for Lactalis, including the Italian cheese company Galbani, U.S. company Rondele, and the Lubborn creamery in the U.K..
In a statement, the European Commission said: "The Commission concluded that the transaction would not significantly impede competition in Europe or Spain."