Increased stake in Switzerland
Emmi acquires 100 % of Mittelland Molkerei AG
Lucerne, 18 July 2016 – Emmi, which already had a 60 % stake in Mittelland Molkerei AG, is acquiring a 40 % share package from AZM Verwaltungs AG, the investment firm of the Mittelland Milk Producers’ Cooperative (MPM). In doing so, Emmi will acquire 100 % of the Suhr-based company.
Mittelland Molkerei AG is based in Suhr and was founded in 2005, from which time it was 60 % owned by Emmi and 40 % owned by the AZM Verwaltungs AG (formerly the Aargauer Milchverband).
At the Suhr site, Emmi processes milk into butter, cream and consumer milk (pasteurised and UHT). It has been continuously modernised over the past ten years, and the Operational Excellence programme has helped it to develop into an efficient and productive facility. By acquiring all of the company’s share capital, Emmi is demonstrating its commitment to Switzerland.
According to Urs Riedener, CEO of Emmi: “The purchase of the 40 % share package and the associated complete takeover of Mittelland Molkerei AG is evidence of Emmi’s clear commitment to Switzerland.”
In Suhr, Emmi generates sales of roughly CHF 500 million and employs around 350 people. The complete takeover does not affect plant management or the employees of Mittelland Molkerei AG. Since the company was already integrated into the Emmi Group and is fully consolidated, the acquisition will impact sales figures either.
The parties have agreed not to disclose the purchase price. In addition to a cash component, part of the acquisition price, amounting to CHF 34 million, was settled with the transfer of a number of registered shares in Emmi AG, which will come from the stake of the majority shareholder in Emmi, the Central Switzerland Milk Producers Cooperative (ZMP). The Mittelland Milk Producers’ Cooperative therefore participates directly in Emmi AG and ensures broader geographical support from the farming shareholders.