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Emmi to sell German organic dairy division Gläserne Molkerei
FoodBev Media

FoodBev Media

7 July 2023

Emmi to sell German organic dairy division Gläserne Molkerei

Emmi plans to sell Gläserne Molkerei, a northeast German organic dairy producer, to private equity firm Mutares. Emmi said the transaction is part of the company's focus on "profitable strategic markets and niches," such as ready-to-drink coffee, speciality cheeses, chilled desserts and plant-based dairy alternatives. Emmi first invested in Gläserne Molkerei in 2012 and fully acquired the business in 2016. Gläserne Molkerei generated around €100 million in sales and had over 120 employees in 2022. The decision to divest the Gläserne Molkerei to Mutares comes after "a thorough review of various options and intensive discussions with a range of interested parties". Ricarda Demarmels, CEO of Emmi, said: “The new ownership structure creates sustainable future prospects for the Gläserne Molkerei with its...range of organic dairy products and enables Emmi to continue to implement its strategy of focus”. The sale will result in a "one-off" financial loss of around CHF 38 million (approx. $42.35 million) at EBIT level and around CHF 30 million (approx. $33.43 million) at net profit level for Emmi's 2023 financial year. Completion of the sale is subject to approval, and terms of the transaction were not disclosed.

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