PARMALAT TO BUY 22% STAKE IN NETGROCER

WALLINGTON, N.J. -- Parmalat, the international food company with U.S. headquarters here, last week said it would purchase a 22.3% stake in NetGrocer.com, North Brunswick, N.J., for $30 million.The deal, set to close early next month, represents Parmalat's first foray into e-commerce and is believed by industry sources to be the largest ownership stake a food company has taken in an Internet grocery

WALLINGTON, N.J. -- Parmalat, the international food company with U.S. headquarters here, last week said it would purchase a 22.3% stake in NetGrocer.com, North Brunswick, N.J., for $30 million.

The deal, set to close early next month, represents Parmalat's first foray into e-commerce and is believed by industry sources to be the largest ownership stake a food company has taken in an Internet grocery retailer. Executives from the companies told SN the deal would spark brand recognitio

Register to view the full article

Already a member? .