Argentina’s leading dairy brand, La Serenísima, has rejected a full acquisition proposal from food giants Arcor and Danone, citing valuation disagreements despite their prior stake of 49%. The failed deal highlights the complexities of corporate negotiations in Latin America’s evolving dairy sector.
In a bold corporate maneuver, global food giants Arcor and Danone recently submitted a proposal to acquire 100% of La Serenísima, Argentina’s largest dairy company, known for its deep-rooted legacy and widespread presence in Latin America. However, the offer has been firmly rejected by major stakeholders—the Mastellone family and Dallpoint fund, who collectively own 51% of the company.
The proposal, initiated from Danone’s Paris headquarters, aimed to build upon the existing 49% stake the duo acquired in 2020. If accepted, this would have granted the companies complete ownership of La Serenísima and positioned them as dominant forces in the Latin American dairy market.
However, valuation disagreements proved to be a major stumbling block. Despite the strategic vision behind the deal, the shareholders found the offer insufficient, highlighting the complexities and sensitivities involved in such high-stake negotiations.
La Serenísima, a flagship of Argentina’s dairy industry, operates eight production plants and employs over 3,400 people. In 2024 alone, it generated an impressive USD 1.4 billion in sales, reflecting its continued market dominance and consumer trust.
Had the deal progressed, it would have marked a significant shift in Latin America’s dairy landscape, with Arcor and Danone leveraging their complementary strengths to drive regional expansion. It also represented an effort to resolve past tensions and solidify a long-term alliance between the two companies.
For now, however, La Serenísima remains under the control of its original stakeholders, maintaining its independence amid growing consolidation trends in the global food and dairy sectors.
