Emmi sell German subsidiary Gläserne Molkerei

Date: 06.07.2023Source: Emmi


Emmi Group is selling Gläserne Molkerei, which focuses on the production of regional organic dairy products, to Mutares. The transaction is part of the “consistent and continuous portfolio transformation as well as the focus on profitable, strategic markets and niches”. Gläserne Molkerei generated a turnover of around €100m in 2022 with over 120 employees.

Mutares is an expert specialised in turnaround situations. The company has proven in the past that it is able to bring companies back on track, both operationally and strategically, and thus create attractive prospects for employees, trading partners, consumers and suppliers. The closing of the transaction is subject to approval by the competent competition authorities. The parties have agreed not to disclose the purchase price.

The sale will result in a one-off loss for Emmi of around CHF38m at EBIT level and around CHF30m at net profit level in the 2023 financial year. The negative cash impact of the transaction amounts to approximately CHF10m.

Mutares (group sales 2023: €4.8 – €5.4bn) plans to accelerate the sustainable growth of Gläserne Molkerei. In addition to the development of new distribution channels, the diversification of the product portfolio and the competitive adjustment of the cost structure will be crucial. Johannes Laumann, CIO of Mutares: “We are very pleased to announce our third acquisition in 2023 and to make an acquisition in the food industry for the first time. I am confident that, with the support of the Mutares team, Gläserne Molkerei will be able to fully realise its earnings potential through revenue and efficiency gains.”

Roland Sossna / IDM

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