SWITZ: Emmi, regional co-op invests in Basel dairy
Swiss dairy group Emmi has bought the assets of former dairy Regio Milch beider Basel in a venture with regional co-op MIBA Milchverband der Nordwestschweiz.
Emmi has bought the land, building and production equipment at the site in Frenkendorf.
The Regio Milch beider Basel plant in Frenkendorf was closed down in June "after the failure of composition proceedings", Emmi said today (20 September).
Emmi and MIBA will invest around CHF2m (US$2m) in the site's production facilities to make dairy products using milk from regional milk producers.
Milk, cream and yoghurt will come off the production line from next spring to be sold by local retailers, particularly Coop, Emmi said. The venture will create around 20 jobs.
"Emmi is delighted to be able to process milk from North-Western Switzerland locally. Coop and other retailers are also very interested in regional products and are supporting our project," said Emmi CEO Urs Riedener.
MIBA president Daniel Jenni added: "The milk plant means that added value remains in the region. In addition, regional products only make sense when distances from consumers are short."
As we headed into September, there was uncertainty about the prospects for M&A activity, with analysts at KPMG suggesting the value of deals in the food, drink and consumer goods space in the second q...
- just-food 2017 Survey - your thoughts on growth
- 2017 - what will shape the UK food sector?
- Food market in 2017: need-to-know US trends
- Food market in 2017: big foodservice trends
- Could BRF's Turkey move pave way for OneFoods IPO?
- Ferrero insists Nutella not pulled from shelves
- UK's Bakkavor plays down IPO "speculation"
- PepsiCo launches Walkers Mediterranean in UK
- Mondelez plans "selective" UK price hikes
- US targets increased organic production