Parmalat S.p.A. is a dairy and food corporation which is a subsidiary of French multinational company Lactalis. It was founded by Calisto Tanzi in 1961. Having become the leading global company in the production of long-life milk using ultra-high-temperature processing, the company collapsed in 2003 with a €14bn ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Since 2011, it has been a subsidiary of French group Lactalis (with fuller control since 2019). Today, Parmalat is a company with a global presence, having operations in Europe, North America, South America, Australia, China, and South Africa. More information...
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