Lactalis, the privately owned French dairy company, reached a significant milestone last year as sales for the dairy giant surpassed €20bn for the first time. Recently filed accounts for Lactalis show the group’s sales increased 8% last year thanks to acquisitions to hit just over €20bn.

While sales continue to grow for Lactalis, profits took a sharp fall in 2019. Net profits for the French company slumped 25% last year to hit €318m.