SPAIN – The TGT Group, Spain based producer and distributor of dairy product, has acquired 20% of the shareholding in Lácteas Cobreros, a local goat’s milk products supplier specializing in cheese and milk powder.
The two family-run companies have a history of working together, which began with the signing of a five-year rolling partnership in 2005 that saw TGT distribute Lácteas Cobreros’ products.
TGT has pointed out that, thanks to this agreement, the group, “strengthens its strategy as a manufacturer, reaching eleven production plants on the peninsula, and manufacturing most of the best Spanish cheeses”.
José Ubaldo Cobreros, Manager of Lacteas Cobreros said, “We are very excited that TGT will become part of our company. This group has not only been a partner or an ally, but a travel companion with which we are now moving towards a new stage, full of new projects.”
TGT is a Spanish group specialized in the cheese marking with multinational development and country leadership by volume marketed. Its turnover in 2019 exceeded 383 million euros.
“We are very excited that TGT will become part of our company. This group has not only been a partner or an ally, but a travel companion with which we are now moving towards a new stage, full of new projects.”José Ubaldo Cobreros – Manager of Lacteas Cobreros
Lacteas Cobreros on the other hand began producing lactic curd, mainly goat, in the late 90s, and subsequently began the manufacture of rulo cheese, becoming one of the precursors of its implementation in Spain.
In recent years, these cheeses have achieved numerous recognitions in different competitions, both national and international, such as the Global Cheese Awards, among many others.
In 2009 Lacteas Cobreros started goat milk processing and sheep powder, and this category accounted for 38% of its turnover in 2019.
TGT’s entry into the Lácteas Cobreros shareholding opens the future development to several lines of business of the Zamorana company located in Castrogonzalo, among which are the makeover and branding, planned for the month of November.
According to Statista, revenue in the Spain’s cheese segment amounts to US$3.533 billion in 2020.
The global cheese market is expected to reach US$164.338 billion by 2023 from US$136.283 billion in 2016, growing at a CAGR of 2.7% from 2017 – 2023.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE