Emmi subsidiary increases stake in Tunisian dairy company

17 Jan 2018

Kaiku, an Emmi subsidiary based in San Sebastián (Spain), is increasing its stake in Centrale Laitière de Mahdia (Vitalait), based in Mahdia (Tunisia), from 45.4% to 54.7%.

Emmi subsidiary increases stake in Tunisian dairy company

Kaiku, an Emmi subsidiary based in San Sebastián (Spain), is increasing its stake in Centrale Laitière de Mahdia (Vitalait), based in Mahdia (Tunisia), from 45.4% to 54.7%. As a result, Emmi, which holds 73.4% of shares in Kaiku, will have a 40.2% stake in Centrale Laitière de Mahdia. In a second step in 2021, the stake will be increased by another 9.34%.

Strengthening its international presence is part of Emmi’s strategy, the company said, noting that Tunisia plays an important role in this as the company’s fourth-largest international market.

Emmi has held a stake in the Kaiku Group since 2006, with the latter holding a stake in Centrale Laitière de Mahdia SA (Vitalait) since 2012. The Tunisian company sells its products under the Vitalait brand. Kaiku’s other main markets are Spain and Chile.

Vitalait is said to be the number two company in dairy products in Tunisia. The company has grown steadily in recent years and has, said Emmi, markedly improved its portfolio. Aside from drinking milk, it currently also produces yogurt, yogurt drinks and desserts.

The increase in stake underlines Emmi’s and Kaiku’s commitment to the growing Tunisian market. The transactions will not affect Emmi’s EBIT or sales, as Vitalait is already fully consolidated.