Switzerland-based dairy processor Emmi has struck a deal to buy 50% stake in Mexican cheese importer Mexideli 2000 Holding to boost its revenue from overseas businesses to 50% from 43%.
The financial terms of the deal have not been disclosed.
Mexideli distributes specialty fresh products such as desserts from across six locations in Mexico. The company will generate sales of CHF45m (around $50m) in 2013.
Emmi has been seeking to achieve growth, organically and through acquisitions, with a focus on emerging markets outside Europe.
Emmi CEO Urs Riedener said, "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."
Riedener added, "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."
