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Lactalis to Acquire US "Icelandic Style" Yogurt Brand siggi's.

M2 EQUITYBITES-January 8, 2018-Lactalis to Acquire US "Icelandic Style" Yogurt Brand siggi's


8 January 2018 - French dairy company Lactalis has agreed to acquire siggi's, a US based maker of Icelandic style skyr yogurts, for an undisclosed price, the company said.

siggi's was founded by Siggi Hilmarsson who, after moving to the US from his native Iceland, began making yogurt in his kitchen in response to American yogurt, which he found too sweet and full of extra ingredients.

The recipe was based on skyr, the Icelandic style yogurt Siggi grew up eating in his native Iceland.

With seed investment from his former professor, Siggi started selling his yogurt at an outdoor market in downtown Manhattan in 2006.

It is now the fastest growing yogurt in conventional grocery. siggi's is a top five selling yogurt brand in many mainstream grocery chains including Stop and Shop, Meijer and Publix and recently became the #1 selling yogurt brand overall in Whole Foods.

siggi's will continue operating out of its New York city office and will remain a standalone company under its current senior leadership team, which includes its founder as CEO, and Bart Adlam as president.

Founded in France over 80 years ago by AndrAaAaAeA@ Besnier, the Lactal family group is the world's largest dairy company, employing more than 75,000 people in 85 countries worldwide.

Lactalis is active in all categories of the dairy market, and is the number one cheese manufacturer in the world. The Group's prestigious brands include PrAaAaAeA@sident, Galbani, Parmalat, Stonyfield Farm, Bride Rachel's Organic, and SkAaAaAeANnemejerie

The acquisition is subject to expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in the United States.

J.P. Morgan Securities LLC acted as exclusive financial advisor and The Giannuzzi Group acted as legal counsel to siggi's, and Dentons US LLP acted as legal counsel to the Lactalis Group, on the sale.

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Publication:M2 EquityBites (EQB)
Date:Jan 8, 2018
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