Emmi Group, a Swiss dairy products manufacturer, said that majority shareholders in Italian cheese company Ambrosi including the company have agreed to sell the business to the Lactalis Group.

The financial terms of the deal were not announced by Emmi, which holds a 25% stake in Ambrosi.

According to Emmi Group, the deal, on its part, is part of the transformation efforts of its portfolio and in line with a focus on segments that are clearly defined and have profitable growth and the associated bolstering of majority stakes.

Emmi Group acquired the stake in Ambrosi in 2007 with an objective to jointly expand internationally in various selected countries in the premium and specialty cheeses segment.

Founded in 1942, Ambrosi, which is headquartered in Lombardy province, is among the major producers and distributors of premium traditional cheeses in Italy.

Both partners currently have structures of their own outside their domestic market and are well placed for growth in the future, said Emmi.

Urs Riedener — Emmi Group CEO said: “Italian cheese classics such as Parmigiano Reggiano and Grana Padano have been the ideal addition to our high-quality traditional range of Swiss cheese specialities, but are no longer part of our core range.

“The sale also reflects our consistent strategic alignment to differentiated brand concepts and profitable focus platforms such as ready-to-drink coffee, specialty cheeses, desserts and plant-based milk alternatives.”

The closing of the deal is contingent on approval by the relevant competition authorities.

Last year, Emmi Group through Emmi Roth acquired US feta cheese producer Athenos from Lactalis.

  Ambrosi, Dairy industry news, Emmi Group, Food acquisition news, Italy, Lactalis, Lactalis Group, Urs Riedener