SWITZ/NETHERLANDS: Emmi acquires 70% of AVH Dairy Trade
Swiss dairy group Emmi has acquired a 70% stake in AVH Dairy Trade, the Netherlands-based producer of goat's and sheep's milk products, for an undisclosed fee.
Emmi said today (8 January) the deal, which cleared on 1 January, reinforces the firm's position in what it described as a "flourishing niche market". AVH Dairy Trade is one of the leading international traders in goat's and sheep's milk, with sales of EUR16.5m (US$21.6m) in 2012.
Emmi's CEO, Urs Riedener, said: "We are pleased about the expansion of Emmi's goat's and sheep's cheese business, an area where we are already active in Switzerland and the US. It will be an ideal complement to our product range in attractive markets."
AVH Dairy Trade will continue to operate independently. Financial details of the deal were not disclosed.
Strengthening the market position in goat's and sheep's milk products
Emmi acquires a 70% stake in Dutch company AVH Dairy Trade BV
Lucerne, 7 January 2013 - With effect from 1 January 2013, Emmi has acquired a 70% stake in the goat's and sheep's milk products trader AVH Dairy Trade BV, which is based in Bergen, the Netherlands. This will enable Emmi to reinforce its position in a flourishing niche market.
Emmi wants to strengthen its position in the international goat's and sheep's milk product market. The acquisition of AVH Dairy Trade BV is a further step in this direction. The company, based in Bergen, the Netherlands, is a leading international trader of goat's and sheep's milk products, in particular cheese, milk power and protein concentrates. It markets its products mainly in the EU, the US and Asia. Its product range also includes organic cow's milk products.
Urs Riedener, CEO of Emmi, commented: "We are pleased about the expansion of Emmi's goat's and sheep's cheese business, an area where we are already active in Switzerland and the US. It will be an ideal complement to our product range in attractive markets."
AVH Dairy Trade BV generated sales of about EUR 16.5 million (CHF 20 million) in 2012. The company has been a subsidiary of Emmi Nederland from 1 January 2013 and will continue to operate independently. The parties have agreed not to disclose the purchase price.
Original source: http://group.emmi.com/en/media-ir/media-releases/the-articles/newsid/emmi-beteiligt-sich-mit-70-prozent-an-der-niederlaendischen-avh-dairy-trade-bv.html
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