Lactalis has entered into an agreement to acquire U.S.-based Icelandic-style yogurt manufacturer siggi’s for an undisclosed sum.
“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, in a joint press release. “We look forward to supporting siggi's as it continues to bring its retail partners exceptional dollar growth in the yogurt category.”
Under the terms of the deal, siggi's will continue operating out of its New York City office and will remain a standalone company under its current senior leadership team, including Founder and CEO Siggi Hilmarsson and Bart Adlam as President.
“We're excited to join the Lactalis family, which offers the opportunity to further fuel our growth,” said Hilmarsson. “Our core values of clean ingredient label and less sugar will remain 100 percent unchanged. Consumers everywhere are actively trying to reduce sugar in their diets, so our offering has a global relevance.”
According to the companies’ press release, Hilmarsson founded siggi’s after moving to the U.S. from his native Iceland and finding American yogurt too sweet and full of extra ingredients. With seed investment from his former professor, Siggi started selling his yogurt at an outdoor market in downtown Manhattan in 2006, using a recipe based on skyr—the Icelandic style yogurt Siggi grew up eating. In the ensuing decade and change siggi's has reportedly gone on to be a top five selling yogurt brand in many mainstream grocery chains including Stop & Shop, Meijer, and Publix, and siggi’s recently became the #1 selling yogurt brand overall in Whole Foods Markets.
"siggi's topline grew 50 percent in 2017 and we expect to match this in 2018 as we launch further innovations,” Adlam added. “We are excited to keep the momentum going with support from the largest dairy player in the world.”
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