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Emmi Strengthens its International Business

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Emmi Strengthens its International Business

Emmi Strengthens its International Business
June 10
11:51 2011

Swiss dairy company Emmi is acquiring A-27, an Italian company which produces and distributes high-quality dessert specialities, for an undisclosed sum. A-27’s products are sold under the Bonta Divina brand and as private label products in some 25 countries. The acquisition will enable Emmi to expand its expertise in the dessert segment while further strengthening its position in key markets.

A-27, which was founded in 1978 and generates net sales of approximately Eur65m, is a pioneer in the premium dessert market. It specialises in the production and distribution of homemade-style desserts.

The largest markets are France and Italy where Bonta Divina is market leader in the premium dessert segment. Other important markets include Germany, the UK and the Benelux countries. Products under the Bonta Divina brand account for 45% of the portfolio, and private labels for 55%.

Emmi’s international activities are focused on its key markets of Italy, Germany, the UK, Benelux, Austria and the US. The acquisition of the Italian premium dessert producer A-27 and its Bonta Divina brand will enable Emmi to further consolidate its position as a provider of high-quality branded products outside Switzerland.

“Bonta Divina, the number one in premium desserts in Italy, is an excellent match for Emmi and will be a strategically important platform. It will enable us to expand our position in key international markets and push ahead with our growth strategy,” Urs Riedener, chief executive of Emmi.

The European premium dessert market is expanding, with growth rates in the high single digits in the key markets of France, Italy and the UK. Bontà Divina has been exceptionally successful and is an innovation leader in this segment.

In order to improve the organisation of its holdings, Emmi is also acquiring additional stakes of 35.8% in Holding der Schweizerischen Milchproduzenten and 35.0% in Emmi Interfrais from the Swiss Milk Producers Cooperative. This raises Emmi’s stake in HSMP to 99.8% and that in EISA to 96.0%.

Emmi is financing the acquisition of A-27 and the two shareholdings using current funds and credit lines. The parties involved have agreed not to disclose the purchase price.

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