Swiss milk processor Emmi has announced it is increasing its stake in Brazilian firm Laticinios Porto Alegre, taking its holding in the Minas Gerais based milk processor from 40% to 70%.
Emmi has held a stake in the Laticinios Porto Alegre since July 2017, and said the company had been developing positively in “an extremely challenging market environment”.
“With the acquisition of a majority stake, Emmi is underlining its willingness to invest further in the development and expansion of the company together with its local partners”, the firm said in a statement. It added that the transaction would strengthen its presence in Latin America and “build bridges” beyond its existing engagements in Chile and Mexico.
Laticinios Porto Alegre produces natural cheese, mozzarella and requeijao (cream cheese), as well as UHT milk, cream and butter. In recent times it has grown to become the third biggest dairy firm in Minas Gerais, Emmi added.