Emmi has bought a 25% stake in US-based yoghurt firm Siggi’s as the Swiss dairy group looks to dip its toe into the country’s fast-growing yoghurt sector.
Siggi’s, based in New York, is a small player in the US yoghurt market. According to Emmi, Siggi’s generates US$17m in sales from what Emmi called its “traditional Icelandic and Scandinavian-style yoghurts”.
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However, the US is Emmi’s largest overseas market and the company wants to add a presence in yoghurt to its local portfolio of speciality cheeses, as well as cheese exports from Switzerland.
Matthias Kunz, the head of Emmi’s business outside Switzerland, said: “This stake gives Emmi an interesting involvement in an innovative and fast-growing company. In addition, Emmi and siggi’s have a common understanding of what makes a good dairy product that is clearly distinct from the competition.”
The deal, struck for an undisclosed sum, was Emmi’s fourth acquisition in the US in five years.
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By GlobalData
