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30/12/2005
Emmi joins with Spanish dairy products company
Emmi aims to penetrate the Spanish and Latin American markets with its fresh products. The leading Swiss dairy company intends to take a partial stake in the Spanish company Kaiku Foods Corporation. The price of the purchase has not been released. Emmi is continuing with its international strategy and is expanding to Spain and Latin America. Its new business partner, Kaiku, which is headquartered in San Sebastian and employs 150 workers, registered earnings of 226 million Swiss francs in 2004. Kaiku is number two in the high-end segment of the Spanish dairy products industry, Emmi reported Thursday in a press release. Emmi and Kaiku have signed a statement indicating their intention to cooperate on fresh products. Their objective is the marketing, sale, and distribution of brands like Benecol, Evolus, and Caffe Latte in Spain and Latin America. Kaiku has subsidiaries in Brazil, Mexico, and Chile, and intends to gradually capture the Latin American market. Emmi aims to take a partial share in Kaiku, and the price of the acquisition has not yet been released. According to the press release, the Lucerne consortium will become the largest single shareholder in Kaiku, followed by Spanish company Iparlat, which owns 20 percent of Kaiku. The rest of the shareholders are primarily financial institutions, investors, and agricultural cooperatives. Emmi will also participate on the board of directors and in the operations management of Kaiku.
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