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French Dairy Giant Buys Siggi's Skyr

09 January 2018

ICELAND - French dairy giant Lactalis has bought The Icelandic Milk and Skyr Corporation which has manufactured and marketed Siggi's Skyr, the best known yogurt brand in the US.

The price has not been made public, but according to local newspaper Fréttablaðið, the price of US$300 million had been named during negotiations in December.

Iceland Magazine reports that Siggi's Skyr is owned by the company's founder, Sigurður Kjartan Hilmarsson (Siggi) and several of his family members and friends.

A Swiss dairy company, Emni Group also owned a 22 per cent share. Emni has agreed to sell its share to Lactalis. Siggi will remain as the CEO of the company.

The company was founded in 2006 after Sigurður left his job at Deloitte Consulting on Wall Street.

Mr Hilmarsson had moved to Manhattan in 2002 where in 2004 he started to experiment with making skyr in his kitchen, using an old family recipe he got from his mother.

TheCattleSite News Desk

Top image via Shutterstock



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