Lactalis has agreed to acquire siggi’s
Siggi’s, the US based maker of Icelandic style skyr yogurts with “simple ingredients, not a lot of sugar” has been purchased by dairy giant Lactalis. siggi’s was founded by Siggi Hilmarsson who, after moving to the US from his native Iceland, began making yogurt in his kitchen in response to American yogurt, which he found too sweet and full of extra ingredients.
The recipe was based on skyr, the Icelandic style yogurt Hilmarsson grew up eating in his native Iceland. It is now the fastest growing yogurt in conventional grocery. siggi’s is a top five selling yogurt brand in many mainstream grocery chains including Stop & Shop, Meijer and Publix and recently became the number one selling yogurt brand overall in Whole Foods. siggi’s will continue operating out of its New York City office and will remain a standalone company under its current senior leadership team, which includes its founder as CEO, and Bart Adlam as president.”We’re excited to join the Lactalis family which offers the opportunity to further fuel our growth,” says Hilmarsson. “Our core values of clean ingredient label and less sugar will remain 100% unchanged. Consumers everywhere are actively trying to reduce sugar in their diets so our offering has a global relevance.”
Adlam adds, “siggi’s topline grew 50% in 2017 and we expect to match this in 2018 as we launch further innovations. We are excited to keep the momentum going with support from the largest dairy player in the world.”
J.P. Morgan Securities LLC acted as exclusive financial advisor and The Giannuzzi Group acted as legal counsel to siggi’s, and Dentons US acted as legal counsel to the Lactalis Group, on the sale. The acquisition is subject to expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in the US.