news in brief

Emmi takes controlling stake in Brazilian company Laticínios Porto Alegre

By Jim Cornall contact

- Last updated on GMT

Laticínios Porto Alegre produces natural cheese, mozzarella and requeijão (cream cheese), as well as UHT milk, cream and butter.
Laticínios Porto Alegre produces natural cheese, mozzarella and requeijão (cream cheese), as well as UHT milk, cream and butter.

Related tags: Emmi, Brazil, Milk

Swiss dairy company Emmi is increasing its stake in Laticínios Porto Alegre Indústria e Comércio S.A., based in Ponte Nova in the state of Minas Gerais, Brazil, from 40% to 70%.

Emmi has held a stake in the dairy since July 2017, and said the Brazilian company is now among the top three largest dairies in its primary market of Minas Gerais.

The acquisition of the majority of the shares is subject to approval by the local competition authority.

At the time of the initial investment, Laticínios Porto Alegre was one of the five largest milk processors in Minas Gerais.

Laticínios Porto Alegre has strong market positions in the natural cheese, mozzarella and requeijão (cream cheese) segments, as well as in UHT milk, cream and butter. Laticínios Porto Alegre is also a leading player in whey powder, which is mainly supplied to the Brazilian food industry. In 2018, Laticínios Porto Alegre achieved net sales of around BRL630m ($160m) and employed around 1,250 people.

The remaining 30% of the company, founded in 1991, remains with brothers José Afonso and João Lúcio Barreto Carneiro. Emmi said João Lúcio Barreto Carneiro and his team are responsible for the successful growth of Laticínios Porto Alegre and will continue to drive the company forward in the future as chairman of the board and managing director.

Related news

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.