NEW YORK — The Lactalis Group has agreed to acquire siggi’s, a maker of Icelandic-style skyr yogurts. Financial terms of the transaction were not disclosed.
Founded in 2005 by Siggi Hilmarsson, siggi’s has become one of the fastest-growing yogurt brands in grocery stores and recently became the top-selling yogurt at Whole Foods Market, according to Lactalis. The company’s sales grew 50% in 2017, and management expects to match this in 2018 as the brand launches additional innovation.
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| Emmanuel Besnier, president of the Lactalis Group |
“We are delighted to welcome siggi’s to the Lactalis Group, which further expands our yogurt platform in the U.S. with this unique and fast-growing yogurt brand,” said Emmanuel Besnier, president of the Lactalis Group. “We look forward to supporting siggi’s as it continues to bring its retail partners exceptional dollar growth in the yogurt category.”
Following completion of the transaction, siggi’s will continue operating out of its New York office as a standalone company run by its current leadership team, including Mr. Hilmarsson as chief executive officer and Bart Adlam as president.
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| Siggi Hilmarsson, founder of siggi's |
“We’re excited to join the Lactalis family, which offers the opportunity to further fuel our growth,” Mr. Hilmarsson said. “Our core values of clean ingredient label and less sugar will remain 100% unchanged. Consumers everywhere are actively trying to reduce sugar in their diets so our offering has a global relevance.”
Lactalis is a global dairy company with total sales of €17 billion ($20.5 billion). Cheese manufacturing is the company’s largest market and makes up 34% of sales. Yogurt and chilled dairy make up 12% of sales. While Europe is Lactalis’ largest market, the Americas make up 21% of the company’s sales. Siggi’s joins a portfolio of brands, including Président, Galbani, Parmalat, Stonyfield Farm, Bridel, Rachel's Organic and Skånemejerier.
