Lactiangol acquired by Webcor Group

Webcor Group has acquired Lactiangol in a $30 million deal.

Lactiangol is Angola's main dairy unit and produces approximately 300 liters of milk each week, according to Africa Business Communities. Webcor CEO Wissam Nesr was quoted as saying the company, along with local partners, will be a major player in diversifying and developing the economy in Angola.

Lactiangol has the ability to manufacture approximately half a million liters of milk per week, according to Africa Business Communities, and Webcor wants to develop the production of other dairy products, including chocolate milk, yogurt, butter, ice cream and cheeses, among other things.

"Angola is experiencing a turning point in the economy, diversifying from trade and distribution to local industrialization and, together with our local partners, we will be one of the main players in this change," Nesr said in African Business Communities.

Webcor was founded in the Democratic Republic of Congo and has been selling its products in Angola for nearly 30 years.