Emmi Expands its Presence in Tunisia
Swiss dairy group Emmi is continuing to strengthen its international presence. Kaiku, an Emmi subsidiary based in San Sebastián (Spain), is increasing its stake in Centrale Laitière de Mahdia (Vitalait), based in Mahdia (Tunisia), from 45.4 % to 54.7 %. As a result, Emmi, which holds 73.4 % of shares in Kaiku, will have a 40.2 % stake in Centrale Laitière de Mahdia. In a second step in 2021, the stake will be increased by another 9.34 %. Tunisia is Emmi’s fourth-largest international market.
Emmi has held a stake in the Kaiku Group since 2006, with the latter holding a stake in Centrale Laitière de Mahdia since 2012. Vitalait is the number two in dairy products in Tunisia. The company has grown steadily in recent years and has markedly improved its portfolio. Aside from drinking milk, it currently also produces yogurt, yogurt drinks and desserts.
The increase in stake underlines Emmi’s and Kaiku’s commitment to the growing Tunisian market. The transactions will not affect Emmi’s EBIT or sales, as Vitalait is already fully consolidated.
The parties have agreed not to disclose the purchase price or any other details of the contract. The transaction is subject to the approval of the Tunisian authorities.
