Argentina’s leading dairy company Mastellone, known for its flagship brand La Serenísima, is nearing a strategic ownership transition as Arcor and French multinational Danone move to acquire full control. The deal is under negotiation and could conclude by May 28, 2025. Amid Argentina’s economic volatility, the alliance aims to reinforce exports and strengthen domestic presence.
Mastellone Hermanos, the Buenos Aires-based dairy powerhouse behind the iconic La Serenísima brand, is on the verge of a major ownership shift. Arcor, one of Argentina’s largest food processing firms, and global French dairy leader Danone are jointly moving to acquire full control of Mastellone, aiming to consolidate operations and drive growth through international exports.
Arcor and Danone already hold a 49% stake in Mastellone through their joint venture, Bagley Latin America. Their partnership dates back to 2015, when they initially acquired a 25% stake for USD 25 million. This latest move would see the duo buy out remaining shares from Dallpoint Investment and the heirs of Pascual Mastellone, the company’s founder.
Although original shareholders initially resisted selling their stakes, seeking better terms, negotiations have accelerated as both parties approach the May 28, 2025 deadline set in their preliminary agreement. The proposed acquisition would see Danone and Arcor each holding 50% control under the structure dubbed “La Serenísima Unida.”
Despite Argentina’s economic recession, Mastellone recorded a 6% growth in domestic sales in the first quarter of 2025 compared to the same period in 2024. The company’s diverse dairy portfolio, which includes brands such as La Armonía and Ser, remains strong even as export profits were hit by currency fluctuations and lower stock availability.
With an eye on international markets like Brazil and Paraguay, Mastellone has launched strategic financial initiatives to boost powdered milk exports. The deal, if completed, is expected to streamline the company’s operations and reinforce its financial resilience through expanded export revenues.
Danone, with ties to Mastellone since 1996, is expected to take the operational lead under the new ownership structure, leveraging its global expertise to navigate Argentina’s market pressures.
