Emmi Group to acquire Italian Fresh Foods to expand dessert business
Emmi Group has agreed to acquire Italian Fresh Foods (IFF) for an undisclosed sum to strengthen its global dessert business.
Based in Lasnigo, Como in Italy, IFF is a global company which is into manufacturing and marketing of Italian desserts.
The dessert segment is said to be a crucial area of the Swiss milk processor’s product portfolio.
Following the acquisition of Italian dessert companies A-27 in 2012 and Rachelli in 2013, Emmi claims to have made a special mark in Italian specialty desserts.
Emmi CEO Urs Riedener said: “Italian Fresh Foods is an agile, innovative manufacturer of high-quality Italian desserts. The product portfolio suits Emmi extremely well and strengthens a segment that is strategically important for the company.”
By acquiring IFF, Emmi gets access to the Netherlands, US and Canadian markets, where it is yet to make any significant impact in the desserts segment.
Post acquisition, IFF brands including its more popular brand Dolce Italia will remain unchanged. Besides, Emmi will retain the existing production structure of IFF in Lasnigo.
IFF CEO Flavio Pok will continue to head it even after the acquisition is completed.
Completion of the acquisition is subject to approval from relevant competition authorities.
IFF, which is said to have key presence in the Netherland and the UK, has sales of nearly €20m with 85% of it coming from outside its home country Italy. It has a workforce of about 70 people.
Apart from Dolce Italia, its other desserts include tiramisu and profiteroles.
Earlier in the month, Emmi had agreed to acquire American goat milk processor Jackson-Mitchell for an undisclosed price.
Image: IFF products in extra-small portions. Photo: courtesy of Emmi Group.