Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Fresh Produce

Emmi Sells Majority Stake In Spanish Goat's Cheese Business

Swiss dairy firm Emmi has announced that it sold its 80% majority stake in Spanish company Lácteos Caprinos to Lácteas García Baquero S.A. for an undisclosed sum.

The move is a part of the dairy giant's strategy to focus on growth and margin delivering international business.

The decision was based on adjustments to Emmi's Europe-wide goat's milk procurement strategy.

The company added that the consistent expansion of the niche with goat's milk products remains strategically important for Emmi.

Lácteos Caprinos specialises in the production of goat's milk products.

It has around 40 full-time employees and generates annual sales of approximately €10 million.

Extensive Expertise

Lácteas García Baquero S.A. has a long history and extensive expertise in the cheese business and a complementary product portfolio and distribution network, Emmi added.

Lácteas García Baquero will retain all employees and the business will continue under the Lácteos Caprinos brand.

The sale will result in a one-off charge of around CHF 15 million to EBIT in Emmi's 2020 financial year.

The majority of this loss is attributable to the 'goodwill recycling' principle required by Swiss GAAP FER, the dairy company said.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days