Emmi Buys Dessert Specialist Italian Fresh Foods
18 Jan 2017 --- Emmi has hailed the strategic importance of its dessert portfolio following the purchase of premium dessert specialist Italian Fresh Foods (IFF). Urs Riedener, CEO of Emmi, said: “Italian Fresh Foods is an agile, innovative manufacturer of high-quality Italian desserts. The product portfolio suits Emmi extremely well and strengthens a segment that is strategically important for the company.”
The Swiss dairy giant, which also makes ice cream and milk-based drinks, has looked to bolster the dessert part of its business in recent years.
IFF, founded in 1992, is a family-run business which makes a range of desserts including desserts under premium brand Dolce Italia, including tiramisu, profiteroles and cappuccio.
It generates annual sales of almost €20 million ($21.4m), 85 percent of which come from outside Italy, with the UK being a key market.
Along with strengthening its position in the Italian market, by acquiring IFF - for an undisclosed sum - Emmi will gain access to the US, Canada and Netherlands markets, where it currently has little presence.
Emmi has made a number of aquisitions to bolster its position in the dessert sector. It purchased the Italian dessert specialist A-27 in 2012, which was followed by the purchase of 80-year-old Italian dessert company Rachelli a year later.
Emmi says its will keep IFF’s current production structure in Lasnigo, Italy.
Flavio Pok, founder and CEO, will remain in charge of the company.
According to its latest full-year sales, Emmi generated sales of $3.2bn in 2015, a fall of 5.6 percent on the previous year.
During the period, the company’s cheese segment fell under pressure but its yogurt and milk drinks performed well, as brands like Emmi Caffe Latte, Jogurtpur, Onken and Rachelli delivered growth.
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