Swiss dairy producer Emmi has agreed a deal to acquire 50% stake in Mexican dairy importer Mexideli, Just Food reports. The value of the deal was not disclosed.
The move comes as Emmi looks to approach its target of generating 50% of its sales from overseas markets. At presents, 43% of the company’s revenues are derived from outside of Switzerland.
Described by Emmi as “Mexico’s leading importer of speciality cheeses”, Mexideli, which generates annual sales of US$49.9m, also imports chilled products including desserts made by Emmi’s Italian Subsidiary A-27.
Emmi’s CEO Urs Riedener commented: “Mexideli is a healthy and profitable company that has already been distributing Emmi products successfully for many years. Its leading position strengthens our opportunities in Mexico, a country that imports a lot of its cheese. The Emmi products set to benefit are its Swiss export cheese varieties, Swiss fondue, cheeses manufactured locally abroad and the desserts of the Italian producer A-27.”
Source: Just Food