Emmi buys Verde Campo in Brazil from Coca-Cola
Image: Emmi Group
Laticínios Porto Alegre, Emmi Group’s Brazilian subsidiary, is to acquire a majority shareholding in the Verde Campo dairy from Coca-Cola in the state of Minas Gerais. The move consolidates Emmi’s market position in the strategic key market of Brazil. The well established Verde Campo brand will complement Emmi’s position in Brazil through the addition of functional dairy products in line with the steady transformation of its portfolio. Verde Campo’s original founding team will hold a 30% stake and a seat on the board of directors.
Brazil, a strategic key market for Emmi, is the largest market for dairy products in Latin America. Despite the high level of volatility, the overall macroeconomic situation in Brazil has improved and inflation has fallen considerably. The Emmi Group has held a stake in the Brazilian subsidiary Laticínios Porto Alegre since 2017 and increased it to 70% in 2019. Emmi perceives further growth potential in the important Brazilian market given that the acquisition of Verde Campo will speed up the transformation of the portfolio through the addition of innovative brands and differentiated premium concepts.
“The shareholding in Verde Campo will allow us to improve our position on the strategically important Brazilian market while reinforcing the value of our portfolio with a strong brand and a focus on functional premium dairy products. We are confident that by joining forces with Verde Campo’s former founding team, we can take the brand to profitable growth,” says Ricarda Demarmels, CEO of the Emmi Group.
With its dairy products, including yogurt and milk drinks with high-quality whey proteins, Verde Campo is firmly established in Brazil. The brand, a pioneer in the area of protein, is particularly popular among consumers in the large Brazilian cities, who place a high value on health and functionality. The Verde Campo brand is also highly regarded among nutritionists due to the health benefits of its lactose-free, high-protein and natural formulas. In line with its aim of continual portfolio transformation, Verde Campo will complement Emmi’s position in Brazil with a strong brand and focus on functionality. Verde Campo will continue to operate as an independent company, according to Emmi.
Alessandro Rios Carvalho, founder of Verde Campo, and Álvaro Gazolla, former head of marketing and sales, will assume a 30% stake in Verde Campo and a seat on the board of directors. This arrangement affirms Emmi’s conviction that the company can take Verde Campo to sustainable, profitable growth. The transaction is subject to approval by the competition authorities. Agreement was reached not to disclose the purchase price.