January 10, 2013
Emmi buys 70% stake in AVH Dairy Trade
Emmi has acquired a 70% stake in AVH Dairy Trade BV effective January 1, 2013.
Emmi wants to strengthen its position in the international goat's and sheep's milk product market. The acquisition of AVH Dairy Trade BV is a further step in this direction. The company, based in Bergen, the Netherlands, is a leading international trader of goat's and sheep's milk products, in particular cheese, milk power and protein concentrates. It markets its products mainly in the EU, the US and Asia. Its product range also includes organic cow's milk products.
Urs Riedener, CEO of Emmi, commented, "We are pleased about the expansion of Emmi's goat's and sheep's cheese business, an area where we are already active in Switzerland and the US. It will be an ideal complement to our product range in attractive markets."
AVH Dairy Trade BV generated sales of about EUR16.5 million (US$22 million) in 2012. The company has been a subsidiary of Emmi Nederland from January 1, 2013 and will continue to operate independently. The parties have agreed not to disclose the purchase price.
