Emmi Takes Full Control of Swiss Company Mitteland Molkerei
18 Jul 2016 --- Emmi, the dairy group, has taken full control of Swiss business Mittelland Molkerei for an undisclosed amount.
The Swiss dairy company purchased the 40 percent stake that it did not own from AZM Verwaltungs, the investment firm of the Mittelland Milk Producers' Cooperative (MPM).
A spokesman for Emmi said: “The purchase of the 40 percent share package and the associated complete takeover of Mitteland Molkorei is evidence of Emmi’s clear commitment to Switzerland.”
Mittelland Molkerei, based in Suhr, was founded in 2005, and was 60 percent owned by Emmi and 40 percent owned by AZM Verwaltungs.
Urs Rie, chief executive of Emmi, said: "The purchase of the 40 % share package and the associated complete takeover of Mittelland Molkerei AG is evidence of Emmi’s clear commitment to Switzerland.”
At Mitteland Mokerei's manufacturing site, Emmi processes milk into butter, creams and pasteurised milk.
According to Mitteland Mokerei, the facility, which employs around 350 people, makes around CHF500m annually.
According to Emmi, the deal will have no impact on the running of the manufacturing site.
No details of the purchase price was disclosed, but the two companies did revealed that CHF34m ($35m) "part of the acquisition price"- will be settled through the transfer of Emmi shares.
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