Switzerland-based dairy establishment Emmi will 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.
The company made an impairment charge on Trentinalatte, which is under pressure due to the challenging yoghurt market in Italy.
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.
Emmi said that Livia Group will be taking on all employees and has the expertise required to guide Trentinalatte into a successful future.
Founded in 1993, Emmi produces and markets a range of dairy and fresh products worldwide.
