Swedish investment firm Serkland Invest AB agreed to buy a stake in Iran’s Sahar Dairy Co., which makes Danone and Le Groupe Bel SA products in the country.

Serkland, which invests in consumer goods, will spend "tens of millions of euros" on the minority holding in Sahar, and may secure further investment from other European firms for the stake, founder Omid Gholamifar said in an interview in Tehran on Sunday.

"Consumer goods companies know that Iran is the very last frontier," Gholamifar said. "The investments you can make here, you can’t make anywhere else in the world."

Gholamifar was part of a Swedish delegation visiting Tehran this week to improve business relations between the two countries after sanctions were lifted. Serkland is also looking at more investments in Iran’s consumer goods market and has a "pipeline of about a dozen" deals, he said.