Emmi, a dairy firm in Switzerland, has acquired 100% stake in Canada-based J.L. Freeman's cheese business for an undisclosed amount.
The acquisition is line with Emmi's strategy to strengthen its position in the speciality cheese business.
With this investment, Emmi will be able to expand its footprint in North America and secure market access for exports from Switzerland.
More than half of J.L. Freeman's imports are cheeses from Switzerland which include Le Gruyère AOP, Emmentaler AOP, Fondue and various specialities.
Freeman generates around C$38m ($31.9m) in and employs 18 members of staff in its cheese business.
Emmi CEO Urs Riedener said: "J.L. Freeman is an established, profitable company which has been working successfully with Emmi for almost 60 years. Its leading position in the import of speciality cheeses offers an excellent marketing opportunity for Swiss cheese varieties and specialities such as Kaltbach and Swiss Fondue."
J.L. Freeman cheese business will continue to operate independently under the leadership of its current management.
