Emmi is selling its 24% stake in Italian fresh cheese specialist Venchiaredo S.p.A., which is based in Ramuscello and generates sales of approximately EUR 20 million. In doing so, Emmi is focusing its activities in Italy on the dessert business, cheese exports from Switzerland and its 25% stake in cheese trader Ambrosi S.p.A.
Emmi has been a minority stakeholder in cooperative Venchiaredo S.p.A. which is based in Ramuscello, Italy, since January 2010. At the same time Emmi Italy took over sales of Venchiaredo products. In 2012, Emmi increased its stake from 10 % to 24 %.
The aim of this holding was to participate in Italy’s growing fresh cheese market and generate synergies associated with fresh products from Trentinalatte. Due to the sale of Italian company Trentinalatte in autumn 2014, Emmi has now decided to also dispose of its stake in Venchiaredo and to give up the sale of Venchiaredo products. Granarolo S.p.A., based in Bologna (Italy), will take over the sale of Venchiaredo products. Emmi’s strategy continues to invest in markets and segments with considerable growth potential.
Venchiaredo produces mozzarella, stracchino, mascarpone, ricotta and butter, and generates around two-thirds of its sales in Italy. The company posted sales of approximately EUR 20 million in 2016.
Swiss dairy Emmi has made a further acquisition in the goat’s milk sector with the purchase of US-based family-owned business Jackson-Mitchell.
Jackson-Mitchell, which is also known as Meyenberg, distributes goat’s milk and evaporated and powdered goat’s milk throughout the US. Meyenberg products are primarily available through national supermarket chains. The group also sells its products online and through regional retailers and ”speciality” businesses, Emmi noted.
Emmi, which already had a 60 % stake in Mittelland Molkerei AG, is acquiring a 40 % share package from AZM Verwaltungs AG, the investment firm of the Mittelland Milk Producers’ Cooperative (MPM). In doing so, Emmi will acquire 100 % of the Suhr-based company.
Mittelland Molkerei AG is based in Suhr and was founded in 2005, from which time it was 60 % owned by Emmi and 40 % owned by the AZM Verwaltungs AG (formerly the Aargauer Milchverband).
At the Suhr site, Emmi processes milk into butter, cream and consumer milk (pasteurised and UHT). It has been continuously modernised over the past ten years, and the Operational Excellence programme has helped it to develop into an efficient and productive facility. By acquiring all of the company’s share capital, Emmi is demonstrating its commitment to Switzerland.
Emmi is to acquire a 60% stake in Dutch dairy producer Bettinehoeve, the largest producer of fresh and ripened goat’s cheese in the Benelux region.
The Swiss company called goat’s milk products one of “the most attractive niches in the international dairy industry” and added that the deal would allow it to strengthen its presence in “this attractive growth area”.
Emmi entered the international market for goat’s milk products in summer 2010 with its acquisition of US goat’s cheese producer Cypress Grove Chevre. It has gradually expanded its activities in the segment in recent years – such as in 2013 through the acquisition of a 70% stake in Dutch dairy AVH, which specialises in the export of goat’s and sheep’s milk products; and most recently in December with the purchase of US-based Redwood Hill Farm & Creamery.