German dairy group Meggle has moved to snap up domestic cheese supplier Stegmann Emmentaler Käsereien from French cooperative Sodiaal.
Financial terms were not disclosed. In a statement, Meggle said the acquisition would “strengthen” its presence in cheese, which the company described as “historically important” for the business. just-food has approached Meggle for further comment.
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Stegmann Emmentaler Käsereien generated turnover of EUR120m (US$141.3m) in its most recent financial year, the statement read, without disclosing the time-frame.
The company employs around 200 staff across two sites in Kempten in southern Germany and in Altusried, a town eight miles further north.
“With Meggle and Stegmann, two Bavarian companies with a long and successful history are coming together. We will bundle our competences, make investments and use the great potential,” Meggle CEO Matthias Oettel said.
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The transaction is subject to regulatory approval.
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By GlobalDatajust-food has asked Sodiaal to comment on the asset sale.
Last week, the co-op announced it would acquire full control of the European operations of yogurt business Yoplait. In a multi-faceted deal with fellow Yoplait shareholder General Mills, Sodiaal agreed to sell its stake in the yogurt business’ Canadian arm to the US food group.
