Takeover of Inversco by Sligro Food Group completed
Today saw the signing of the finalised contracts for the acquisition of Inversco Holding B.V. by Sligro Food Group N.V. The intended takeover was announced on 20 April 2006.
The Netherlands Competition Authority (NMa) has cleared the takeover and the staff councils have recommended in favour of the transaction.
Inversco´s financial information will be included for a period of 4 weeks in the Sligro Food Group consolidation for the first half of 2006.
Inversco is a successful, fast-growing business focusing on large foodservice accounts such as institutional clients (50%), national chains (25%) and large institutions in the hospitality sector (25%). Inversco specialises in supplying short-life and long-life perishables to customers in these target groups. Inversco has its own meat processing business and centre for vegetables. The company also has three production facilities for convenience foods, in Eindhoven, Ter Apel and Amsterdam. Sales in 2006 are expected to be in excess of €130 million, generated by a workforce of approximately 400 on a full-time equivalent basis. The operating result before depreciation and amortisation of goodwill (EBITDA) is expected to amount to approximately €13 million.
The listed company Sligro Food Group comprises food retail and foodservice businesses directly and indirectly serving the entire Dutch market for human food and beverages. Sligro Food Group’s mission is to be a quality company with consistent, managed growth across all its activities and for all its stakeholders. In 2005, the company achieved sales of €1,546 million with a net profit of almost €51 million. The number of employees on a full-time equivalent basis was more than 3,500.
Veghel, 31 May 2006
Sligro Food Group N.V.
A.J.L. Slippens
H.L. van Rozendaal
Tel. +31 413 343 500
www.sligrofoodgroup.com
