Utrecht, September 2, 2008 - The Executive Board of Royal Wessanen nv announces that its subsidiary Wessanen France SAS has reached an agreement with Laboratoires Lehning to acquire all of their 159,667 shares in Distriborg Group (listed on Euronext Paris – symbol: BORG), representing 9.92 % of Distriborg's share capital.
The transaction was finalized at a price of EUR 140 per share, corresponding to a total amount of EUR 22.4 million. The purchase of shares was paid in cash.
As a result of this transaction, Wessanen France SAS now holds, directly and indirectly, 99.6 % of Distriborg’s shares. With the objective to delist Distriborg from Euronext Paris as soon as reasonably feasible, a public offer will be made for the remaining 0.4 % of the shares, if required, followed by a squeeze-out, in accordance with French legislation (via an offre publique de retrait suivie d’un retrait obligatoire).
In 2000, Wessanen initially acquired 89.7 % of the shares in Distriborg Group. Since then, the corporation, headquartered in Lyon, France, has successfully strengthened its key market positions and has played a major role in building a strong platform for the marketing and distribution of Health and Premium Taste foods. Distriborg is the largest operating company within our European portfolio, with profitability already in line with our strategic target and with a strong balance sheet. Obtaining full ownership of the company will increase flexibility in enhancing the execution of Wessanen’s European growth strategy.