Switzerland-based dairy company, Emmi AG, will acquire the remaining 40% stake in another Swiss dairy company, named Mittelland Molkerei AG.

Swiss investment firm AZM Verwaltungs AG currently holds the 40% stake in the target company.

The purchase will be completed part in cash and the remaining through transferring registered shares worth an estimated €31.2m ($34.41m), from the stake of the majority shareholder in Emmi.

Upon completion of the transaction, Mittelland Molkerei AG will become a wholly-owned subsidiary of Emmi AG.

US-based investment fund company, InHouse Ventures, has completed the acquisition of Californian organic coffee and tea company, Taylor Maid Farms for an undisclosed sum.

The existing employees and leadership of the target company are retained post the acquisition.