Emmi Strengthens Position in Brazil with Majority Stake Acquisition of Verde Campo
Source: The DairyNews
Emmi, the Swiss dairy group, has further solidified its footprint in Brazil through the acquisition of a majority stake in Verde Campo from The Coca-Cola Co.
Subject to regulatory approval in Brazil, Emmi's acquisition entails a 70% stake in Verde Campo, facilitated by its Brazil-based subsidiary, Laticínios Porto Alegre. This move marks an expansion of Emmi's existing shareholding, which began with a 40% stake acquired in 2017 and was subsequently increased in 2019.
Remaining shareholders include Alessandro Rios Carvalho, the founder of Verde Campo, and Álvaro Gazolla, the company's former marketing and sales chief, who retain a 30% stake.
Emmi expressed confidence in its ability to drive Verde Campo towards sustainable and profitable growth, highlighting its commitment to the Brazilian market.
While specific financial details of the transaction were not disclosed, Emmi's statement emphasized its dedication to leveraging this strategic acquisition to enhance its presence and operations in Brazil.
The completion of the deal is contingent upon obtaining competition approval in Brazil, underscoring Emmi's adherence to regulatory protocols in its expansion efforts.
Remaining shareholders include Alessandro Rios Carvalho, the founder of Verde Campo, and Álvaro Gazolla, the company's former marketing and sales chief, who retain a 30% stake.
Emmi expressed confidence in its ability to drive Verde Campo towards sustainable and profitable growth, highlighting its commitment to the Brazilian market.
While specific financial details of the transaction were not disclosed, Emmi's statement emphasized its dedication to leveraging this strategic acquisition to enhance its presence and operations in Brazil.
The completion of the deal is contingent upon obtaining competition approval in Brazil, underscoring Emmi's adherence to regulatory protocols in its expansion efforts.
