Emmi, a dairy firm in Switzerland, has acquired 34% stake in Emmi Fondue (EFON) owned by French milk processor Bongrain since late 2004.
EFON, a joint venture between Emmi and Bongrain, has been dissolved because it became steadily less significant, the company said.
The transaction will not have any impact on EFON's strategy or operations.
Emmi will continue to focus on developing the processed cheese brands such as Gerber, Gala, Tigre, Chalet and Swiss Knight both in Switzerland and abroad.
The financial terms of the transaction have not been disclosed.
Earlier in October, Emmi announced plans to divest Trentinalatte, the yogurt manufacturer acquired in Italy in 2006, to The Livia Group.
The move comes as Trentinalatte is anticipated to face decline in profits over the future, Emmi said.
Emmi decided to sell the yogurt manufacturer to Livia after evaluating several other potential buyers.
The transaction will be completed after receiving consent of the municipality and the province.The financial terms of the transaction, however, remain undisclosed.
Image: Emmi will continue to focus on developing processed cheese. Photo: courtesy of Mister GC / FreeDigitalPhotos.net.
