Emmi sells 24% stake in Venchiaredo to Granarolo

Bologna-based Italian food company Granarolo has acquired a 24% stake in Venchiaredo, the third largest producer of stracchino soft cheese in Italy and the leading producer for the private label segment, from Emmi Holding Italia, the Italian branch of the Swiss dairy group.

Headquartered in the province of Pordenone in northern Italy, Venchiaredo posted a turnover of €24.1 million in 2016, of which 70% was generated from sales to third-party customers in the large-scale retail and discount segments and the remaining 30% from sales to other industrial players.

The operation is part of Granarolo’s industrial growth plan, which has seen it acquire a number of small and medium-sized companies in Italy and abroad over the last two years. Thanks to these acquisitions, the Bologna-based group closed 2016 with consolidated revenues of €1.18 billion, 9.5% up on the previous year. It has 15 production units in Italy along with two facilities in France and Brazil, one in Chile and one in New Zealand.