LUCERNE, SWITZERLAND — The Emmi Group has taken a 25% stake in The Icelandic Milk and Skyr Corp., Yates County, N.Y., maker of the siggi’s brand of Icelandic-style yogurt. Terms of the agreement were not announced.
Icelandic-style yogurts have a creamy texture, are low in fat and sugar, and high in protein. Siggi’s is expected to achieve $17 million in sales in 2013 and its products are available in organic and health food stores in the United States.
Emmi said it will handle all of the production needs of siggi’s at its Emmi Penn Yan L.L.C. yogurt manufacturing plant in Upstate New York that it acquired in 2010 and further support the brand with its investment.
“This stake gives Emmi an interesting involvement in an innovative and fast-growing company,” said Matthias Kunz, head of international business for Emmi. “In addition, Emmi and siggi’s have a common understanding of what makes a good dairy product that is clearly distinct from the competition.”
Yogurt is a trending category in the United States, becoming popular on the heels of the Greek yogurt boom. This past August, Danone, Paris, acquired YoCrunch, which manufactures yogurt with mix-in toppings through licensing agreements with brands such as M&Ms and Oreo. The company, which was founded in 1985, has net sales of $110 million.
The Starbucks Coffee Co. and Danone also announced in July that they had entered into an agreement to develop a line of Greek yogurt products that will be sold in Starbucks stores and the U.S. grocery channel.And in June, Muller Quaker Dairy, a joint venture between the Theo Muller Group, a dairy processor based in Germany, and PepsiCo, Inc., opened a yogurt manufacturing facility in Batavia. The plant cost approximately $206 million, is more than 350,000 square feet and will produce about 120,000 cups per hour.