Emmi acquires stake in Brazil’s Laticínios Porto Alegre
Emmi is acquiring a 40% stake in Brazil’s Laticínios Porto Alegre Indústria e Comércio S/A, based in Ponte Nova in the state of Minas Gerais. With this transaction, Emmi is strengthening its presence in Brazil and moving ahead with its programme of international growth.
The remaining 60% holding in the company, which was founded in 1991, will be retained by brothers José Afonso and João Lúcio Barreto Carneiro. The latter is the company’s CEO. He will stay in the company and help to drive forward its future development together with Emmi.
Emmi’s CEO Urs Riedener said: “Laticínios Porto Alegre is a healthy company that has also done an excellent job in the recent years of economic difficulty. Its strong position provides Emmi the possibility of complementing its product portfolio with innovative product and marketing concepts, thereby creating additional opportunities in a market with a great deal of potential over the long term.”
Laticínios Porto Alegre is the fifth largest dairy in its main market of Minas Gerais, with strong positions in traditional natural cheese, mozzarella and requeijão (fresh cheese), UHT milk and butter. It also manufactures whey powder for the Brazilian Food Industry. In 2016, the company generated sales of approximately BRL 500 million (around CHF 150 million) and employed some 1,000 people.