Emmi has agreed to acquire Italian Fresh Foods (IFF) – a manufacturer of high-quality desserts based in the north of the country – for an undisclosed amount.
The acquisition, Emmi said, would allow it to strengthen its position in the dessert segment and reinforce its expertise in an ‘attractive niche market’. As well as bolstering the Swiss company’s desserts portfolio, the acquisition of IFF also provides access to markets such as the Netherlands, US and Canada, where Emmi has so far had little presence in the desserts category.
It follows the acquisitions of Italian dessert specialists A-27 in 2012, and Rachelli in 2013.
Family-run IFF is best known for its Dolce Italia brand, which started out in 1992 with tiramisu before expanding to include other well-known Italian desserts including tartufo and limoncello. It generated sales of almost €20 million at the last count, 85% of which comes from markets outside Italy. The company has been characterised by ‘strong and constant growth’ in the last five years, Emmi said.
Emmi CEO Urs Riedener added: “Italian Fresh Foods is an agile, innovative manufacturer of high-quality Italian desserts. The product portfolio suits Emmi extremely well and strengthens a segment that is strategically important for the company.”
Emmi will keep the current production structure in Lasnigo, north of Milan, and founder and CEO Flavio Pok will remain in charge of the company.
Both parties have agreed not to disclose the purchase price of the deal, which is still subject to regulatory approval.
Earlier this month, Emmi acquired the Meyenberg brand of goat’s milk in the US to add to its Cypress Grove and Redwood Hill brand marks.
© FoodBev Media Ltd 2020