Watts S.a. (SNSE:WATTS) signed a memorandum of understanding to acquire Lacteos Valdivia Limitada from Guillermo Roman Theoduloz and family for CLP 6.2 billion on June 13, 2012. In 2011 Lacteos Valdivia had a turnover of above CLP 12 billion. The deal is expected to complete on July 1, 2012. On June 28, 2012, the date of signing a definitive agreement byWatts S.a. to acquire Lacteos Valdivia Limitada was changed to no later than July 31, 2012. Watts S.a. (SNSE:WATTS) completed the acquisition of Lacteos Valdivia Limitada from Guillermo Roman Theoduloz and family for CLP 1.4 billion on July 19, 2012. Watts S.a. paid CLP 2.9 million, but may pay CLP 480 million annually over the next three years depending on the sales performance of Valdivia.