January 6, 2014

In order to strengthen its presence in Latin America and moving ahead with its programme of international growth, Emmi is to acquire a 50% stake in Mexideli 2000 Holding SA de CV.

Emmi's strategy is to increase, over the medium term, the share of sales attributable to international business to 50%. The share currently stands at around 43%. The aim is to achieve this growth both organically and through acquisitions, with a stronger focus in future on emerging markets outside Europe.

Emmi is strengthening its position in an attractive, growing market and increasing the potential for exporting Emmi Group products to Mexico with the 50% stake in Mexideli 2000 Holding SA de CV (Mexideli). This gives the company a second strong base in Latin America alongside Chile.

Urs Riedener, Emmi's chief executive officer commented: "Mexideli is a healthy and profitable company that has already been distributing Emmi products successfully for many years. Its leading position strengthens our opportunities in Mexico, a country that imports a lot of its cheese. The Emmi products set to benefit are its Swiss export cheese varieties, Swiss fondue, cheeses manufactured locally abroad and the desserts of the Italian producer A-27."

Around a quarter or some 400,000 tonnes of the cheese consumed in Mexico is imported, meaning that import expertise is vital. The cheese import market is growing at an annual rate in the mid-single digits, while imports of premium speciality cheeses are posting double-digit growth.

Emmi is the largest Swiss milk processor and one of the most innovative premium dairies in Europe. In Switzerland, the company focuses on the development, production and marketing of a full range of dairy and fresh products as well as the production, ageing and trade of primarily Swiss cheeses. In 2012, Emmi posted net sales of CHF2,981 million (US$3.3 billion) and a net profit adjusted for one-time effects of CHF90.3 million (US$99.7 million).

Mexideli 2000 Holding SA de CV is headquartered in Mexico City and specialises in imports of premium foods. It is Mexico's leading importer of high quality speciality cheeses and also distributes speciality fresh products such as desserts, including those of the Emmi Group Company A-27.