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Iceland Mag


French dairy giant buys Siggi's skyr, largest manufacturer of Icelandic skyr in US

By Staff

  • Siggi's skyr The best known manufacturer of Icelandic skyr is now French-owned. Photo/Vísir.

The French dairy giant Lactalis has bought The Icelandic Milk and Skyr Corporation which has manufactured and marketed Siggi's Skyr, the best known skyr brand in the US. The price has not been made public, but according to the local newspaper Fréttablaðið the price of 300 million US Dollars had been named in the negotiations in December.

Read more: Icelandic skyr now makes up 2% of the US yogurt market

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% 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. Sigurður 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.

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