Parmalat

Parmalat is a global dairy and food corporation with a rich history spanning over six decades. Established in 1961 by Calisto Tanzi, the company initially focused on producing ultra-high-temperature processed long-life milk, which eventually helped it to become the world's leading company in this segment.

However, Parmalat's success came to an abrupt halt in 2003 when it was discovered that the company had a massive €14bn hole in its accounts, leading to Europe's biggest bankruptcy. The incident led to several legal battles, including the arrest of Calisto Tanzi on charges of market manipulation, and the company's shares being delisted from the Borsa Italiana.

Despite these challenges, Parmalat managed to survive and continue its operations, and in 2011, it became a subsidiary of the French group Lactalis. The company has a global presence, with operations in Europe, North America, South America, Australia, China, and South Africa. It has nearly 140 production centers worldwide, and its products include UHT milk, milk derivatives such as cheese, butter, ice cream, and various fruit juices sold under different brand names.

As one of the largest manufacturing companies in Italy, Parmalat has around 16,000 employees globally, with 5,000 Italian dairy farms supplying it. Under the ownership of Lactalis, the company has restructured and expanded its product range to cater to changing market demands.

Founded: 1961
Headquarters: Collecchio, Italy
Website: https://www.parmalat.com/en/