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Emmi, the leading multinational dairy firm, has announced it is selling Glaserne Molkerei, a producer of organic dairy products from north-eastern Germany, to private equity firm Mutares.
Emmi first invested in Glaserne Molkerei in 2012 and fully acquired the business in 2016. The German firm generates around €100 million (S110 million) in revenue from a range of products, including milk, butter, yoghurt, buttermilk and cheese.
“The transaction is consistent with the Group’s ongoing portfolio transformation and focus on profitable strategic markets and niches such as ready-to-drink coffee, speciality cheeses, chilled desserts and plant-based dairy alternatives”, Emmi noted in a statement.
Commenting on the acquisition, Mutares CIO Johannes Laumann said: “We are very pleased to announce our third acquisition in 2023 and the first in the food industry. I am confident that Gläserne Molkerei, with the support of the Mutares team, will be able to fully realize its earnings potential through revenue and efficiency improvements.”
Emmi CEO Ricarda Demarmels added: “The new ownership structure creates sustainable future prospects for the Gläserne Molkerei with its…range of organic dairy products and enables Emmi to continue to implement its strategy of focus”.
Terms of the transaction were not disclosed.
Source: Emmi / Mutares / Food Ingredients First
