Emmi Expands in US Yogurt Sector
Swiss dairy group Emmi has strengthened its standing in the US after acquiring a 25% stake in yogurt supplier Siggi for an undisclosed sum. The US is Emmi’s largest foreign market. The majority of sales there are generated by the exports of Swiss cheese as well as locally produced cow’s and goat’s milk specialty cheeses.
Cheese will continue to be Emmi‘s primary focus in the US. However, with the stake of around 25% in the yogurt operations of siggi’s as well as the collaboration in the manufacturing of yogurts, Emmi will be able to take part in the dynamic growth of the US yogurt market.
Based in New York, siggi’s is an up-and-coming yogurt supplier which expects to generate sales of around $17 million with its traditional Icelandic and Scandinavian-style yogurts in 2013.
The move is in line with Emmi’s strategy is to increase the share of sales attributable to its international business to 50% (currently around 43%).
Matthias Kunz, head of international business at Emmi, says: “This stake gives Emmi an interesting involvement in an innovative and fast-growing company. In addition, Emmi and siggi’s have a common understanding of what makes a good dairy product that is clearly distinct from the competition.”
