Swiss dairy group Emmi is set to acquire a 25% stake in Italian cheese specialist Ambrosi.

In a joint statement, the companies said today (30 May) that they believe the tie-up will facilitate international growth and strengthen their market positions.

"Emmi and Ambrosi intend to offer their customers a comprehensive, high-quality range of traditional Swiss and Italian cheeses and drive their international growth forward," the cheese manufacturers said.

Emmi and Ambrosi are active in 64 countries. Both companies will continue to market their products independently in Italy.

Financial details of the transaction were not disclosed. The deal is expected to close on 1 July.