Swiss dairy food company Emmi has concluded a co-operation deal, covering the fresh dairy product sector with Spanish dairy company Kaiku.
With this aim in mind Emmi will acquire a minority stake in Kaiku, the plan being to market, sell and distribute fresh products in Spain and Latin America, Emmi said.
With this co-operation, both partners will strengthen their positions in the international market with products such as Benecol, Evolus, Caffè Latte and other functional food concepts, Emmi said. Kaiku is the number two in the premium segment of fresh dairy products in Spain. The company has subsidiaries in Brazil, Mexico and Chile, and aims to gradually expand its Latin American business.
The two partners have signed a letter of intent, with Emmi planning to acquire a minority stake in Kaiku that will make it the largest individual shareholder beside the Spanish company Iparlat and enable it to join Kaiku’s board of directors and operational management. The parties have decided not to disclose any details.