Despite this volatile environment, Lactalis reported 2025 revenues of €31.2 billion, up 2.9% year-on-year, surpassing €10 billion in the Americas for the first time. The group continues expanding through acquisitions, including a major deal involving consumer assets from Fonterra, strengthening its footprint in Oceania, Asia, and the Middle East.

Besnier attributes Lactalis’ resilience to its “multilocal” business model, which emphasizes strong local production, sourcing, and branding in each market. From Spain to the United States, the company produces dairy products with local milk and operates through regional hubs, combining domestic brands with global labels such as Président to balance scale and adaptability.

The executive also pointed to structural shifts within the dairy sector, including milk oversupply in parts of Europe due to favorable weather conditions, which has put downward pressure on prices. At the same time, he acknowledged ongoing tensions between farmers, processors, and retailers, as well as the growing influence of private-label products in mature markets.