Exclusive Sheila Eggleston Italian dairy and bakery company Parmalat has acquired a controlling interest in Dairytime, including its subsidiaries Loseley Chilled Products, Bridge Farm Dairies and Lakeland Foods. The deal strengthens its dairy business on the yogurt and cheese side with high profile brands, particularly the well established Loseley name. Parmalat's UK director Paul Wynn said: "We are buying into the company to develop it and to make a presence for the Parmalat group in the UK. To do this we have to buy premium brands." Wynn joins the board of Dairytime but the company will continue to be headed by managing director Chris Ball. Dairytime was formed from a management buyout of Bridge Farm Dairies in 1996. The group then acquired Lakeland Foods and Loseley in mid 1999. This deal is the latest in Parmalat's global acquisition trail. The group which claims a $6bn turnover, bought US manufacturer MA Holdings in September, increasing its total bakery sales in North America to more than $500m. {{NEWS }}