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International Dairy Company Lactalis Acquiring Siggi’s Yogurt Brand

Altschul, siggi's

Lactalis has entered into an agreement to acquire siggi’s, a U.S.-based maker of Icelandic-style skyr yogurts with “simple ingredients, not a lot of sugar,” for an undisclosed price. 

Siggi’s was founded by Siggi Hilmarsson who, after moving to the U.S. from his native Iceland, began making yogurt in his kitchen in response to American yogurt, which he found too sweet and containing unnecessary ingredients. The recipe was based on skyr, the Icelandic-style yogurt Hilmarsson grew up eating in Iceland. With seed investment from his former professor, Hilmarsson started selling his yogurt at an outdoor market in downtown Manhattan in 2006. It is now the fastest-growing yogurt in conventional grocery, the company says, adding that it is a top-five selling yogurt brand in many mainstream grocery chains, including Stop & Shop, Meijer and Publix and recently became the No. 1 selling yogurt brand overall in Whole Foods.

Siggi’s will continue operating out of its New York City office and will remain a standalone company under its current senior leadership team, which includes its founder as CEO 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.”

Adlam added, “Siggi’s topline grew 50 percent in 2017, and we expect to match this in 2018 as we launch further innovations. We are excited to keep the momentum going with support from the largest dairy player in the world.”

“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. We look forward to supporting siggi’s as it continues to bring its retail partners exceptional dollar growth in the yogurt category,” said Emmanuel Besnier, president of the Lactalis Group.

The acquisition is subject to expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in the U.S.

Founded in France more than 80 years ago by André Besnier, the Lactalis family group is the world’s largest dairy company, employing more than 75,000 people in 85 countries worldwide. Lactalis is active in all categories of the dairy market. Its brands include Président, Galbani, Parmalat, Stonyfield Farm, Bridel, Rachel’s Organic and Skånemejerier.

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