Swiss food group Emmi invests in importer Mexideli

By VCPOST Staff Reporter

Jan 03, 2014 07:40 AM EST

Swiss dairy firm Emmi has entered a deal to acquire 50% of food importer Mexideli 2000 Holding, according to Just Food. Mexideli is a Mexico-based importer of special cheeses and other fresh products. The company also imports chilled desserts made by A-27, Emmi's Italian subsidiary. Mexideli produces annual sales reaching $49.9 million, the report detailed.

Emmi Chief Executive Officer Urs Riedener said, "Mexideli is a healthy and profitable company that has already been distributing Emmi products successfully for many years. Its leading position strengthens our opportunities in Mexico, a country that imports a lot of its cheese. The Emmi products set to benefit are its Swiss export cheese varieties, Swiss fondue, cheeses manufactured locally abroad and the desserts of the Italian producer A-27."

The financial terms of the said deal were not disclosed. The report noted that this is Emmi's latest overseas investment or acquisition. The company looks to build a business that will generate half of its sales outside of Switzerland. Presently, 43% of the food group's revenue is derived from overseas markets, Just Food reported.

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