Swiss dairy company Emmi has increased its stake in Mexico-based cheese importer Mexideli 2000 Holding from 50% to a controlling 51%.
Financial details have not been disclosed.
Emmi has owned a stake in Mexideli since the beginning of 2014. It said having a majority stake offers it “greater security and underlines its commitment to Mexideli and the Mexican market”.
Emmi said Mexideli co-founder Yory Salant will remain as CEO.
Mexideli has been established for nearly 30 years and has facilities at five locations in Mexico. In 2016, it generated sales of CHF57m (US$58m) and has some 300 employees.
Emmi said strengthening its international presence is part of its strategy.
“Some of the desired growth is to be achieved in emerging markets outside Europe – including in Latin America. Mexico is the third anchor in this region alongside Chile and Brazil,” it said.
In July, when it sold its stake in Italian cheese specialist Venchiaredo, Emmi said it wanted to focus on markets and sectors with “greater potential”.
In April, Emmi acquired a 40% stake in Brazilian dairy processor Laticinios.
