Swiss dairy group Emmi has brushed off a report that claimed it was looking to buy out the other shareholders in Spanish co-operative Kaiku.

Following an interview with Emmi CEO Urs Riedener, Swiss business newspaper Handelszeitung reported that the company, which owns 43% of Kaiku, was planning to take full ownership of the firm.

However, speaking to just-food today (20 January), a spokesperson for Emmi said the company was not interested in increasing its stake in Kaiku.

"[The report] is actually wrong. That's not on the agenda for the time being. There is no contract and no formal option," the spokesperson said.

The spokesperson said Riedener was interested in Emmi and Kaiku "intensifying" the relationship between the two companies. She pointed to the "double-digit growth" Emmi's Caffe Latte brand had acheived in Spain, where it is distributed by Kaiku.

Emmi is also looking at using its relationship with Kaiku to build its presence in Latin America, she said. "Kaiku has production facilities in Latin America. We have a small amount of exports."