Emmi Roth USA, Monroe, Wis., announced plans to acquire a 50% stake in Mexideli 2000 Holding SA de CV, headquartered in Mexico City, Mexico.
The goal is to achieve international growth both organically and through acquisitions, with a stronger focus in the future on emerging markets outside Europe.
"Mexideli is a healthy and profitable company that has already been distributing Emmi products successfully for many years. Its leading position strengthens our opportunities in Mexico, a country that imports a lot of its cheese. The Emmi products set to benefit are its Swiss export cheese varieties, Swiss fondue, cheeses manufactured locally abroad and the desserts of the Italian producer A-27," says Urs Riedener, chief executive officer for Emmi Roth.
Mexideli is an importer of specialty cheeses and maintains a state-of-the-art logistics infrastructure spread across six locations in Mexico. It is also distributes specialty fresh products such as desserts. Mexideli has been in operation for some 25 years and will generate sales of around $50 million in 2013. The second pillar of its business is the foodservice sector, with a Mexideli subsidiary being the market leader in Cancún.
Both parties have agreed not to disclose the purchase price or any other details of the contract.