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Emmi Management AG / Key word(s): Miscellaneous
Lucerne, 25 July 2022 – Emmi is selling its 25% stake in Italian cheese specialist Ambrosi SpA. The transaction is part of the ongoing portfolio transformation and the strategic focus on clearly defined, profitable growth segments, as well as the associated strengthening of majority stakes.
Emmi, the Swiss manufacturer of premium dairy products, is divesting its 25% stake in Italian cheese specialist Ambrosi SpA. The stake, acquired in 2007, was aimed at achieving joint international growth in several selected countries in the specialty and premium cheeses segment. Both partners now have structures of their own outside their domestic market and are well positioned for future growth.
“Italian cheese classics such as Parmigiano Reggiano and Grana Padano have been the ideal addition to our high-quality traditional range of Swiss cheese specialities, but are no longer part of our core range,” explains Urs Riedener, CEO of the Emmi Group. “The sale also reflects our consistent strategic alignment to differentiated brand concepts and profitable focus platforms such as ready-to-drink coffee, specialty cheeses, desserts and plant-based milk alternatives.”
As part of the targeted portfolio transformation that has been under way for many years, combined with the strategic focus on profitable growth segments and the strengthening of majority stakes, Emmi is selling its stake in Ambrosi SpA.
In line with the company's successful business development over recent years, there is also increased interest in Ambrosi from other market participants. Against this backdrop and having achieved the goals set, the majority shareholders of the Italian cheese specialist and Emmi have accepted the purchase offer from the Lactalis Group. Completion of the transaction is subject to approval by the responsible competition authorities. The parties have agreed not to disclose the purchase price.
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Emmi is the leading manufacturer of high-quality dairy products in Switzerland. Its roots date back to 1907, when it was founded by dairy farmer cooperatives in the Lucerne region. With its focussed strategy, innovative products and brand concepts established beyond Switzerland, such as Emmi Caffè Latte and Kaltbach cheese, Emmi has grown into an internationally active, listed group (EMMN) with a strong local presence in 15 countries.
Emmi’s business model is traditionally based on a careful approach to nature, animals and people. In this way, Emmi creates the best dairy moments, today and for generations to come, while also contributing to value creation in rural regions. The company distributes its quality products in around 60 countries and manufactures these at over 30 of its own production sites in nine countries. With more than 9,000 employees, around 70% of whom work outside Switzerland, the Emmi Group generated sales of CHF 3.9 billion in 2021.
Ambrosi SpA is an important Italian cheese specialist and produces, matures and markets mainly Parmigiano Reggiano and Grana Padano, as well as other Italian classics such as mozzarella and gorgonzola. Ambrosi employs approximately 430 people at its headquarters in Brescia (Lombardy) and at four further locations in the Parmigiano Reggiano and Grana Padano AOC regions.
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