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Emmi AG

Emmi AG is a Swiss milk processor and dairy products company headquartered in Lucerne.[1] The company employs a total of 12,000+ people in Europe (including Switzerland), North America (USA and Mexico), South America (Brazil and Chile) and North Africa (Tunisia). Emmi AG is listed on the SWX Swiss Exchange. The company generates about 42.5 percent of its sales locally and the other 57.5 percent abroad. Numerous production companies in Switzerland belong to the Emmi Group. Outside of Switzerland, Emmi has production facilities, in Chile, Germany, Italy, the Netherlands, Austria, Spain, Tunisia, Brazil, Canada and the USA. Emmi is one of the 500 largest companies in Switzerland.

History

In 1907, 62 cooperatives founded the Zentralschweizerischen Milchverband Luzern (Central Switzerland Milk Association in Lucerne) (MVL).[2][3] After the incorporation of an association from the canton of Zug, the MVL was renamed to Zentralschweizerischer Milchverband (Central Swiss Milk Association, ZMV) in 1916.[4] In 1947 they produced soft cheese and yoghurt for the first time in Emmen under the brand name Emmi, which was derived from the name of the town.[5] In 1993, the ZMV founded Emmi AG in order to separate commercial activities from association activities. In 1996/1997, Emmi AG was founded as a holding company. In 1998, Emmi Deutschland GmbH was founded and registered in the commercial register the following year. The company's headquarters at the time was in the municipality of Willstätt in Baden-Württemberg.[8] In 1999, the ZMV changed its name to Zentralschweizer Milchproduzenten (Central Swiss Milk Producers, ZMP).[6] In 2021, Thomas Grüter (Die Mitte) became president of ZMP. ZMP is a member of Swiss Milk Producers and the main shareholder of Bergkäserei Marbach AG in Escholzmatt-Marbach.[7] Emmi became the largest milk processor in Switzerland in 2001 through acquisitions, including the Josef Hosp GmbH, with headquarters in Nüziders, which was renamed Emmi Österreich GmbH.[8][9] In 2002, Emmi took over the cheese business of Swiss Dairy Food in Switzerland and Germany[10][8][11] and exported cheese to Russia for the first time.[12] Since December 2004, Emmi has been listed on the SIX Swiss Exchange in the Swiss equities segment.[13]

In 2003, the four processed cheese manufacturers Gerberkäse AG, Chalet Käse AG, Tigerkäse AG and Zingg AG merged to form Emmi Fondue AG,[14] which is a member of the Association of the Swiss Processed Cheese Industry(SESK).[15]

In November 2020, it was announced that Emmi intends to replace the cheese factory in Emmen with a new building.[16] This was completed and commissioned in 2022.[17] In 2021, the Emmi subsidiary Studer invested in a new cheese factory in Hefenhofen.[18] In March 2022, Emmi announced that it had ceased business with Russia following the Russian invasion of Ukraine.[19]

Products

In March 2004, Caffè Latte was added to the Emmi product range. The mixed drink made from milk and coffee is Emmi's most successful branded product. Erich Kienle is considered to be the inventor.[20] Since March 2018, Coop also offers a version in Bio Suisse quality.[21][22] In April 2019, it was announced that the name Caffè Latte would be replaced by Emmi Republic of Blends for some markets, as the previous name was also used by the competition. With a market share of 17.2%, Emmi is the market leader in Western Europe for cold coffees.[23][24] In 2010, Emmi entered the business of goat milk by taking over the Le Petit Chevrier brand in Switzerland. Since then, a number of other acquisitions have been made, including Meyenberg Goat Milk and in the sheep milk sector. At the end of 2010, Emmi acquired the trademark rights for Onken from the Oetker Group.[25][26][27] In 2019, the Austrian company Leeb, which through the Hale company also sells organic vegan milk substitutes under the MyLove-MyLife brand, was taken over.[28] In 2020, the vegan milk substitutes brand Beleaf was launched.[29] Emmi has been using Swiss oats for its Beleaf oat milk since 2021.[30] While this means the Beleaf oat milks are of IP-Suisse quality, the Coop owned-brand Karma oat milk has been produced from Swiss organic oats since 2023 and is of Bio Suisse quality.[31]

In March 2022, following the Russian invasion of Ukraine, Emmi said it had ceased doing business with Russia. In October 2022, Denner added Emmi's Knospe organic milk to its range.[32] In 2023, Emmi took over the marketing of Sprinz AOP.[33] In 2023, a new dessert production plant was opened in Campogalliano, Italy.[34]

Presidents and CEOs

From 1993 to 2003, Franz Jung, President of MVL, was President of the Board of Directors. From 2004 to 2009 Fritz Wyss held this position. At the Annual General Meeting on May 20, 2009, Konrad Graber was elected the new Chairman of the Board of Directors of Emmi AG. In 2023 the former CEO Urs Riedener was elected as President of the Board of Directors.[35]

Ricarda Demarmels has been CEO since January 2023.[36] She succeeded Urs Riedener, who had headed the company since March 2008.[37] He was preceded by Walter Huber (2004–2008) and Fritz Wyss (1998–2004).[38]

Facts and Figures

With the collapse of Swiss Dairy Food (SDF) in mid-2002, Emmi became the leading food group in the Swiss dairy industry, followed by Cremo, Hochdorf, Estavayer Lait and Züger Frischkäse.[39] By 2024, Emmi had subsidiaries in 15 countries.[40] In 2020, the company employed almost 8,700 people, more than two-thirds of them abroad.[41][42] In 2024, net sales by product group were:

In 2008, the foreign share of sales, with exports from Switzerland and products manufactured by foreign subsidiaries, was 23 percent and increased to 57 percent by 2021. In contrast, sales in Switzerland have fallen by around a fifth since 2008. Since the IPO in 2004, the share price has increased from 100 to over 1,000 francs.[44]

  • 29.0% cheese
  • 25.6% dairy products
  • 29.6% fresh produce
  • 5.9% cream cheese
  • 4.4% powder/concentrates
  • 5.5% other products/services[36][43]

Company acquisitions and sales

Switzerland

In 2000, Emmi acquired 35% of Baer AG, founded by Edwin Baer, and sold the shares to Lactalis in 2008.[72] In 2003, the four processed cheese manufacturers Gerberkäse AG, Chalet Käse AG, Tigerkäse AG, and Zingg AG merged to form Emmi Fondue AG.[73] This, in turn, is a member of the Swiss Processed Cheese Industry Association (SESK). In 2010, Fromalp AG in Zollikofen was acquired by Hochland SE.[74] In 2016, the Mittelland Molkerei AG (MIMO) in Suhr[75] with an annual turnover of around 500 million Swiss francs was fully acquired. It was founded in 2005 as a merger of the Emmi subsidiary Butterzentrale Luzern with the AZM Aargauer Zentralmolkerei (formerly part of the Aargau Milk Association).[76] From the outset, Emmi held a 60% stake in MIMO, AZM Verwaltungs AG (a subsidiary of the Genossenschaft Milchproduzenten Mittelland (MPM); formed in 2007 from the Aargauer Milchverband;[77] its president is the former mayor of Suhr, Marco Genoni)[78] held 40%.[79] For the sale of all shares, the cooperative received a cash share and further shares in Emmi AG.[80] In 2019, Emmi Frisch-Service AG was sold to the Transgourmet Group.[81]

International

In 2014, Emmi expanded its activities in the Latin American market by acquiring 50% of the Mexican cheese importer Mexideli.[114] The loss-making Italian yogurt producer Trentinalatte (recent sales of CHF 43 million) was sold to the industrial holding company Livia, owned by financial investor Peter Löw.[127] At the end of 2016, Emmi acquired 80% of the Spanish goat milk processor Lácteos Caprinos[128] and sold it again at the end of 2020.[90] In July 2019, the purchase of the Italian Pasticceria Quadrifoglio was announced; the completion of the transaction is still subject to approval by the relevant competition authorities.[129] In 2021, it was announced that Emmi, subject to approval by the relevant competition authorities, intends to acquire Athenos, the number one in the US feta market, from Lactalis.[130]

Distribution of shares

Holding shares in Emmi AG (as of the end of 2024, nominal capital):[131]

In June 2025, the Miba Genossenschaft sold 110,000 registered shares.[132] On 3 May 2024, UBS Fund Management (Switzerland) AG reported a 3.322% stake. Capital Group Companies Inc. reported a 5.019% stake as of 7 June 2016.[133]

  • ZMP Invest AG 53.3%
  • Zentralschweizer Käsermeister Genossenschaft 4.0%
  • MIBA Genossenschaft 3.1%
  • Other 39.6%

Miscellaneous

  • In 2012, Emmi received more than 43 million francs from the federal treasury solely for the Verkäsungszulage (Cheesemaking bonus).[134]
  • Emmi is heavily involved in the processing trade. For example, in 2020 Emmi imported more than 100 tonnes of butter in order to then process it and export it again as cheese spread.[135]
  • The use of the Nutri-Score for Emmi Caffe Latte products led to criticism, as these were awarded a green B despite their high sugar content. The BLV is searching for a solution.[136] Meanwhile, Emmi announced that it would no longer use the Nutri-Score for new products.[137]

See also

  • Swiss cheeses and dairy products

External links

References

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