30. Subsequent events

Acquisition of a blue cheese production site in the US

On 4 January 2019, Emmi announced the purchase of a blue cheese production site from the Great Lakes Cheese Company in the US. Emmi is thus gaining capacity and know-how for the production of blue cheese in the US and at the same time extending its value chain. The transaction includes the factory, the related land and the production facilities in Seymour, Wisconsin. The 50 employees at the production site currently produce almost 3.5 million kilograms of cheese. The transaction is expected to be completed in the first quarter of 2019.

Sale of Emmi Frisch-Service AG

On 31 January 2019, Emmi announced that it will sell its Swiss trading and supply company Emmi Frisch-Service AG to the Transgourmet Group. The sales of this company amount to approximately CHF 110 million on a full-year basis. In addition, around 160 employees will join the Transgourmet Group. Emmi does not expect this transaction to have a significant impact on the Group’s results in the following year. The completion of the transaction is subject to the approval of the Swiss Competition Commission.

From the balance sheet date until the consolidated financial statements were approved by the Board of Directors on 27 February 2019, no other major events occurred which could have adversely affected the validity of the financial statements for 2018 or which would have to be disclosed.