Emmi increases stake in Tunisian dairy Vitalait

By Jim Cornall contact

- Last updated on GMT

Tunisia is Emmi's fourth biggest market.
Tunisia is Emmi's fourth biggest market.

Related tags: Milk

Kaiku, an Emmi subsidiary based in San Sebastián, Spain, is increasing its stake in Centrale Laitière de Mahdia SA (Vitalait), based in Mahdia (Tunisia), from 45.4% to 54.7%.

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.

vitalait2

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.

Related topics: Manufacturers, Emerging Markets

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