Emmi is set to divest Gläserne Molkerei, a regional organic dairy producer in Germany, to private-equity firm Mutares. This move reflects the company’s strategic focus on profitable markets and niches within the food and beverage industry, such as ready-to-drink coffee, specialty cheese, chilled desserts, and plant-based dairy alternatives. The financial terms of the deal have not been disclosed.
With sales of approximately €100m ($108.6m) and a workforce of over 120 employees in 2022, Gläserne Molkerei boasts a portfolio that includes renowned brands like Pur Joghurt and Kesselmeister.
“The new ownership structure secures a sustainable future for Gläserne Molkerei and its high-quality range of organic dairy products, while enabling Emmi to advance its strategic focus,” stated Emmi CEO Ricarda Demarmels.
Emmi initially invested in Gläserne Molkerei in 2012 before acquiring full ownership four years later.
Mutares, described as a specialist in turnaround situations, has a proven track record of revitalizing companies both operationally and strategically. The sale of Gläserne Molkerei will result in a financial loss for Emmi, with an estimated SFr38m ($42m) in EBIT and SFr30m in net profit for the company’s 2023 financial year.
Emmi has recently announced plans for a new spray-drying facility in the Netherlands to produce goat’s milk powder, expanding its operations in the food and beverage industry. Additionally, the company merged two US goat’s milk companies to form Darey Brands and sold its 25% stake in Italian cheese maker Ambrosi to Lactalis.