Emmi CFO Reto Conrad today (13 April) hinted that the Swiss dairy group could make further acquisitions in Europe in 2010 following the company’s purchase of cheese maker Fromalp.
Speaking to just-food after Emmi announced the acquisition of Fromalp, Conrad suggested the company could again enter the market this year, although he was coy about the group’s targets.
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“It’s going to be a surprise,” Conrad said. “Overseas, I don’t know but, outside Switzerland, it is pretty likely.”
Conrad said the acquisition of Fromalp, a maker of raclette and fondue cheeses, would give Emmi greater scale in markets outside Switzerland.
“We will be able to realise synergies and, on the marketing side, it shows it is necessary to have a certain volume in those markets to allow marketing measures to be more efficient,” Conrad said.
Conrad refused to be drawn on the value of the synergies Emmi is targeting from the acquisition of Fromalp.
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By GlobalDataHowever, the Emmi finance chief said the group would target European markets but “mainly Germany”. He said: “It will strengthen our existing position in those markets.”
