AZM Verwaltungs AG has sold its minority stake in Mittelland Molkerei AG to Emmi AG. Financial details have not been disclosed.
Emmi is the largest Swiss processor of conventional and organic milk and one of the most innovative premium dairies in Europe. In Switzerland, the company focuses on the development, production and marketing of a full range of dairy and fresh products as well as the production, ageing and trade of primarily Swiss cheeses. Outside Switzerland, Emmi concentrates on brand concepts and specialties in established European and North American markets, and increasingly in emerging markets outside Europe. Emmi has around 25 production sites in Switzerland and, together with its subsidiaries, is present in 13 countries, seven of which have production facilities. The company exports products from Switzerland to around 60 countries.
Mittelland Molkerei AG, founded in 2005 and based in Suhr, was 60% owned by Emmi AG and 40% by AZM Verwaltungs AG. Mittelland Molkerei AG processes milk into butter, cream and consumer milk (pasteurized and UHT). The facility has been continuously modernized over the past ten years, and the Operational Excellence program has helped it to develop into an efficient and productive facility.
Oaklins' team in Switzerland supported AZM Verwaltungs AG in the preparation and the negotiations with Emmi AG. This included a review of the owner's strategy with respect to the timing of a sale of its 40% shareholding and an opinion on the valuation of the stake.
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