Change to ownership structure in Spain
Strengthening of Kaiku through a broader shareholder basis
Lucerne, 1 April 2015 – Emmi is increasing its share capital in Kaiku Corporación Alimentaria in San Sebastián, Spain, by EUR 10 million. At the same time, Basque investment company Ekarpen is taking a EUR 6 million stake in Kaiku, thereby reducing Emmi’s stake by 2.6 % to 73.5 %. Through this transaction, Emmi is confirming its commitment to a growth-oriented company with strong market positions in Spain, Chile and Tunisia.
Kaiku is a healthy company with international reach. In addition to Spain, its domestic market, it also has strong bases in the growth markets of Chile and Tunisia. Kaiku is the market leader in lactose-free dairy products and chilled coffee beverages in Spain. The Group’s sales increased considerably in recent years and amounted to approximately CHF 400 million (EUR 375 million) in 2014. Kaiku has additional potential thanks to innovative product and marketing concepts.
To strengthen the Group’s further development, the Basque investment firm Ekarpen is taking a stake of EUR 6 million or 7.3 % of Kaiku’s share capital. At the same time, Emmi is investing a further EUR 10 million in Kaiku. The new ownership structure reduces Emmi’s stake from 76.1 % to 73.5 %.
The objective of Ekarpen is to support sound companies and business projects in the Basque country in their growth and internationalization. Ekarpen’s involvement reinforces Kaiku’s position in the Basque Country. This is a key element in strengthening the collaboration with the local milk producers and ensuring a high-quality raw milk base from the region. For that reason, Emmi very much welcomes Ekarpen's involvement.