France's LACTALIS (turnover of nearly EUR 5.5 bn, 40% from outside France, workforce of 17,000) has bought up Italian dairy product company GALBANI (2004 turnover EUR 1.12 bn, workforce of 3100) from UK investment fund BC PARTNERS EUROPEAN for between EUR 1.5 bn and EUR 2 bn. The deal makes LACTALIS the second biggest cheese company in the world, after KRAFT of the US.