Emmi, the Swiss cheese producer, has announced the acquisition of its compatriot Tiger Käse, a producer of speciality cheeses sold primarily in Italy and Germany.
Emmi did not say how much it had paid for the 60 per cent stake in the company, which is expected to post sales of around SF40 million (€27.4m) in 2003, but stressed that there would be no staff cuts as a result of the deal.
"With the popular consumer brand Tiger, Emmi is reinforcing its worldwide market position as a supplier of cheese products from Switzerland. Especially in the fondue sector, Emmi is keen to make full use of all growth opportunities, both at home and abroad, with a strong brand portfolio of firms including Gerberkäse, Tiger Käse and Zingg," the company said in a statement.
Emmi said the takeover would help it increase its sales of speciality cheeses this year to around SF130 million, almost half of which will be from abroad. However, the company is not prepared to sit on its laurels, and is considering a number of synergies and possible rationalisations which it plans to introduce in the near future.
It stressed that the three separate companies Gerberkäse in Thun, Tiger Käse in Langnau and Zingg in Liebefeld would continue to operate as such throughout 2003, while adding that the recently acquired businesses of bankrupt Swiss Dairy Food would be fully integrated by the end of the month.