Emmi has announced that it is increasing its share capital in Spanish dairy producer Kaiku Corporación Alimentaria by €10m.
The restructuring reaffirms Emmi’s “commitment to a growth-oriented company with strong market positions”, although Basque investment company Ekarpen’s €6m (7.3%) stake in Kaiku will reduce Emmi’s overall stake from 76.1% to 73.5%.
Switzerland-based Emmi welcomed Ekarpen’s involvement, claiming that it would “reinforce Kaiku’s position in the Basque Country” and formed “a key element in strengthening the collaboration with the local milk producers and ensuring a high-quality raw milk base from the region”.
Kaiku is a leading producer of lactose-free dairy products and chilled coffee beverages, with €375m of sales in 2014. The San Sebastián-based firm boasts particularly good performance in Spain, Chile and Tunisia, and “has additional potential thanks to innovative product and marketing concepts”.
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