Swiss dairy giant Emmi is selling Gläserne Molkerei, a northeastern German company specializing in the production of regional organic dairy products, to Munich, Germany-based holding company Mutares. The transaction, the Swiss company writes in a statement, "is consistent with the ongoing portfolio transformation and the Group's focus on profitable markets and strategic niches such as ready-to-drink coffee, specialty cheeses, premium chilled desserts and plant-based dairy alternatives. In 2022, Gläserne Molkerei generated sales of about 100 million Euros with more than 120 employees".

"The new ownership -explains Ricarda Demarmels, ceo of Emmi Group- creates prospects for a sustainable future for Gläserne Molkerei with its range of high-quality organic products and enables Emmi to continue implementing its strategy".

The transaction was made, reports the note, "after a careful analysis of various options and intensive talks with various stakeholders". Emmi decided to divest Gläserne Molkerei to Mutares, which is a "company that specializes in turnaround situations", with an "established track record in putting companies back on the road to success, both operationally and strategically, thereby creating attractive prospects for employees, business partners, consumers and suppliers".

The parties agreed not to disclose the purchase price: the sale will result in a one-time loss for Emmi in fiscal year 2023 of about 38 million Swiss francs (more than 38.9 million Euros) in ebit and about 30 million Swiss francs (30.7 million Euros) in net income. The negative cash effect of the transaction amounts to about 10 million Swiss francs (10.2 million Euros).