Emmi Acquires 34% Stake in Emmi Fondue
Swiss dairy group Emmi has acquired 34% of Emmi Fondue (EFON) from Bongrain, the French milk processor. Bongrain has held the stake since late 2004. The termination of this co-operation will have no impact on EFON’s strategy or operations. Emmi will continue to focus on developing the processed cheese brands Gerber, Gala, Tigre, Chalet and Swiss Knight both in Switzerland and abroad.
Emmi and Bongrain have agreed not to disclose the price paid for the share exchange.
Bongrain is one of the largest milk processors in the world, the second largest cheese merchant in France and the fifth largest on the global cheese market. It concentrates on cheese and dairy specialities and on milk constituents with added value. Bongrain produces and markets high-quality brand products adapted to modern consumer behaviour. The company has some 19,000 employees around the world and achieved sales worth Eur4.4 billion in 2013.
