Emmi increases stake in Tunisian dairy Vitalait
As a result, Emmi, which holds 73.4% of shares in Kaiku, will have a 40.2 % stake in Centrale Laitière de Mahdia SA.
In 2021, the stake will be increased by another 9.34%.
Emmi said Tunisia is the company’s fourth-largest international market.
Emmi has held a stake in the Kaiku Group since 2006, with the latter holding a stake in Centrale Laitière de Mahdia SA since 2012.
The Tunisian company sells its products under the Vitalait brand. Kaiku’s other main markets are Spain and Chile.
Strong position in Tunisia
Vitalait is the second biggest producer of dairy products in Tunisia. Aside from drinking milk, it currently also produces yogurt, yogurt drinks and desserts.
The parties have agreed not to disclose the purchase price or any other details of the contract. The transaction is subject to the approval of the Tunisian authorities.
