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December 17, 2020

Emmi sells majority stake in Spanish cheese business Lácteos Caprinos

Swiss dairy company Emmi has said it is selling its interest in a cheese business in Spain for an undisclosed sum.

By Dean Best

Swiss dairy company Emmi is selling its majority stake in Spanish goat’s cheese producer Lácteos Caprinos.

Emmi did not disclose the price the purchaser Lácteas García Baquero will pay for the 80% holding in a statement this morning (17 December).

Lácteos Caprinos generates annual sales of around EUR10m (US$12.2m) and employs around 40 people.

“After careful examination of various options and beyond economic considerations, the decision was mainly based on adjustments to Emmi’s Europe-wide goat’s milk procurement strategy,” the dairy producer said. “However, the consistent expansion of the niche with goat’s milk products remains strategically important for Emmi.”

Family-run Lácteas García Baquero is a branded cheese manufacturer based in the town of Alcázar de San Juan in the Spanish province of Ciudad Real. It supplies cheeses made from milk sourced from cows, sheep and goats. The business was founded in 1962 and generates a turnover of EUR400m across six production sites in Spain located in Alcázar de San Juan, Palas de Rei (Lugo) and Toro (Zamora). The company supplies to both retail and foodservice. 

Emmi said the sale of Lácteos Caprinos will result in a one-off charge on EBIT of around CHF15m (S$16.9m) in its current financial year.

Lácteos Caprinos is located in Campillo de Arenas, Sierra de Andalucía. Half of its goat’s cheese sales come from exports to 26 countries, according to its website

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