Emmi acquires majority stake in Brazilian dairy Verde Campo
Published: Tuesday, Apr 16th 2024, 11:30
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The milk processor Emmi is acquiring a majority stake in the Brazilian dairy company Verde Campo. Emmi is buying the stake from Coca-Cola for an undisclosed price, according to a press release issued on Tuesday.
With the purchase of Verde Campo, the company from Central Switzerland is strengthening its "existing market position in the key strategic market of Brazil", the largest market for dairy products in Latin America. Emmi sees further potential in the country, where it already operates its subsidiary Laticínios Porto Alegre.
Verde Campo is well established with its products in Brazil and the brand is considered a pioneer in the protein sector. The brand is highly regarded by nutritionists "due to its positive health properties such as lactose-free, protein-rich and natural recipes", according to the press release.
According to the information provided, Verde Campo will continue to be run as an independent company. The dairy's former founding team will also remain invested in the company. According to the press release, they will hold a 30 percent stake in the company and thus also have a seat on the Board of Directors. The transaction still has to be approved by the authorities.
Verde Campo reports a turnover of 301 million reais, which is the equivalent of almost 53 million Swiss francs.
Brazil is Emmi's third-largest market after Switzerland and the US. In the Americas market, which in addition to Brazil and the US also includes Canada, Chile, Mexico, Tunisia and Spain, the company generated CHF 1.7 billion or 40 percent of total sales last year.
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