Fromalp Ltd: Competition Commission gives go-ahead to acquisition

Emmi signed a purchase agreement for Fromalp Ltd in April 2010 and the planned merger has been approved by the Swiss Federal Competition Commission (WEKO) without reservation. The agreement with the current owner of Fromalp, the German company Hochland SE, can be implemented and the acquisition will take place on 1 July 2010. François Huguenin (49) will serve as the new Managing Director and will continue in his current role as Head of Marketing and Sales.

Fromalp Ltd specialises in the manufacture and distribution of typical Swiss cheese products. The company employed some 150 people in 2009 and generated sales of approximately CHF 100 million, with an export share of 40 percent. Emmi can leverage synergies during the integration of the Fromalp business in order to increase efficiency and reduce costs. These cost advantages will give Emmi the financial leeway to assert itself more strongly in the liberalised cheese market and, above all, to boost its sales abroad.

If production is relocated, Emmi is confident of being able to continue to employ the Fromalp employees affected at its various facilities. Emmi currently employs over 1,000 people in the greater Berne area. Fromalp employees will be given priority for vacancies based on their qualifications.

Contact
Emmi Ag Karin Helfenstein Head of Corporate Communications Tel.: +41 41 227 28 42 media@emmi.ch

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