Swiss dairy stakes Mexico claim with Mexideli acquisition

In another vote of confidence in Mexico’s dairy market, Swiss milk processor Emmi has bought half of Mexideli 2000 Holding, a cheese and specialty food importer. Mexideli generated sales of around $50m and had recorded “double-digit growth” in recent years, according to Emmi. A spokesperson at the buyer declined to disclose the sale price or the seller for the deal that was closed on December 31. The transaction follows a well-bid IPO for Mexican dairy and food producer Grupo Lala in October. The MXN14.04bn ($1.08bn) sale was the year’s largest IPO in Mexico.