Emmi to sell yoghurt manufacturer Trentinalatte to Livia Group

Switzerland-based milk processor Emmi will sell yogurt manufacturer Trentinalatte to the Munich and Vienna-based industrial holding company, the Livia Group.

Trentinalatte, which is based in Italy, was originally bought by Emmi in July 2006 to build a strong base in the Italian yoghurt business.

The company decided to divest the company during the presentation of its results for the first six months of the year. It said that an impairment had been made necessary owing to the difficult economic situation in Italy. Emmi zeroed in on the Livia Group after carefully considering many other potential buyers.

The deal will be finalised after the consent of the municipality and the province. The financial details of the transaction were not divulged by the companies.

Emmi is considered to be one of the largest milk processors and dairies in Europe with net sales reaching $3435.67m in 2013.

In Switzerland, Emmi’s primary focus is on the development, production and marketing of a full range of dairy and fresh products, as well as the production, ageing and trade of primarily Swiss cheeses.

Outside Switzerland, the company works on brand concepts and specialities in established European and North American markets, as well as emerging markets outside of Europe.

As of June 2014, the company had close to 5,266 employees working in Switzerland and abroad. In the first half of 2014, the net sales of the company reached $1692.83m and net profit (adjusted) $46.88m.