Meggle to buy German cheese peer Stegmann from Sodiaal | Food Industry News

Meggle seems to be to purchase German cheese peer
German dairy group Meggle has moved to snap up home cheese provider Stegmann Emmentaler Käsereien from French cooperative Sodiaal.

Monetary phrases weren’t disclosed. In an announcement, Meggle stated the acquisition would “strengthen” its presence in cheese, which the corporate described as “traditionally essential” for the enterprise. just-food has approached Meggle for additional remark.

Stegmann Emmentaler Käsereien generated turnover of EUR120m (US$141.3m) in its most up-to-date monetary yr, the assertion learn, with out disclosing the timeframe.

The corporate employs round 200 workers throughout two websites in Kempten in southern Germany and in Altusried, a city eight miles additional north.

“With Meggle and Stegmann, two Bavarian corporations with a protracted and profitable historical past are coming collectively. We’ll bundle our competences, make investments and use the nice potential,” Meggle CEO Matthias Oettel stated.

The transaction is topic to regulatory approval.

just-food has requested Sodiaal to touch upon the asset sale.

Final week, the co-op introduced it could purchase full management of the European operations of yogurt enterprise Yoplait. In a multi-faceted take care of fellow Yoplait shareholder Normal Mills, Sodiaal agreed to promote its stake within the yogurt enterprise’ Canadian arm to the US meals group.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *