French dairy giant Lactalis has bought The Icelandic Milk and Skyr Corporation, producer of Siggi’s Skyr. Vísir reported first. The company’s sale price is as yet undisclosed, but is estimated to be around USD 300 million (ISK 31.2 billion/EUR 250 million).
The Icelandic Milk and Skyr Corporation was founded by Sigurður (Siggi) Hilmarsson in 2006 after he moved to the US from Iceland to attend Columbia Business School. Siggi’s Skyr is now available in over 25,000 stores across the US and accounts for about 2 percent of all yogurt sales in the country.
Sigurður told RÚV the sale will change little in how the company operates. It will remain a standalone company under Sigurður’s leadership and retain its current employees. “Our core values of clean ingredient label and less sugar will remain 100 percent unchanged,” he stated.
Lactalis is one of the largest dairy companies in the world, with around 75,000 employees and products in 85 countries. Swiss dairy company Emmi has also sold its 22 percent share in Siggi’s Skyr to Lactalis.