Cooperation between Emmi and Laiteries Réunies Genève

In July 2009, Emmi purchased a 60% stake in Nutrifrais SA from Geneva-based group Laiteries Réunies Genève. Emmi's objective was to use production synergies and the transfer of know-how to strengthen operations at Plan-les-Ouates and reduce costs. In addition, Nutrifrais SA was to develop into a regional dairy for fresh products, and export projects were planned for the additional utilisation of production capacities.

Insufficient synergies
Over the past four years Emmi has implemented various measures aimed at increasing Nutrifrais' production volumes and thereby improving the plant's profitability. As a result of the difficult situation on the currency front in particular, however, the measures put in place have failed to produce the desired level of export success. The potential for regional pasteurised milk in the Geneva area had similarly been somewhat overestimated. Despite the expertise and distribution structure brought by Emmi as well as the well-known brands Tam-Tam and Yoplait, benefits have been insufficient for both parties. It was therefore decided that, in future, Nutrifrais SA will once again be operated solely by Laiteries Réunies Genève.

Cooperation will remain in place
With effect on 1 April 2013, Laiteries Réunies Genève will reacquire from Emmi the 60% share package in Nutrifrais SA, which manufactures and distributes TamTam and Yoplait products for Switzerland. In addition, Emmi and Nutrifrais SA will continue to work together closely in the future.

The parties involved have agreed not to disclose the price paid for the shares.

Media Contact:
Esther Gerster Head of Corporate Communications Investor Relations T +41 41 227 27 86 ir@emmi.ch

Editor's note: Image rights belong to the respective publisher.