Kaiku, a subsidiary of Swiss dairy firm Emmi, has increased its stake in Centrale Laitière de Mahdia (Vitalait), based in Mahdia, Tunisia, from 45.4% to 54.7%.

The companies have not disclosed the financial details of the deal, which is subject to the approval of Tunisian authorities.

Vitalait is engaged in the production of dairy products such as desserts, yoghurts, and yoghurt-based drinks in the region.

The Tunisian company sells its products under the Vitalait brand.

Emmi currently holds 73.4% stake in Kaiku and, as a result of this deal, the Swiss dairy company will have a 40.2% stake in Vitalait.

“The decision to increase stake is reported to be part of Emmi’s strategy to strengthen its presence in the global market.”

Emmi and the other shareholders of Kaiku noted that they intend to increase their stake in the Tunisian company by another 9.34% in 2021.

After the second investment, Emmi’s stake in Vitalait will be increased to 47.1%.

The decision to increase stake is reported to be part of Emmi’s strategy to strengthen its presence in the global market, and Tunisia is reported to be one of the important markets for the company.

Emmi has held a stake in the Kaiku since 2006.