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Categories: Mergers and Acquisitions

Belgium: Lotus Bakeries Successfully Completes Takeover of Corona-Lotus Inc.

Source: Lotus Bakeries
03/04/2009

3 April 2009 - On 19 December 2008 Lotus Bakeries announced that Corona-Lotus Inc. (USA) will become a 100% subsidiary of the Lotus Bakeries Group.

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As planned the final closing took place on 1 April 2009 with the remaining 50% of the shares of Corona-Lotus Inc. being transferred to the Lotus Bakeries Group.

Following this a long term agreement was concluded with The Gourmet Center and Lotus Bakeries, under the terms of which, as in the past, The Gourmet Center will continue to sell Lotus caramelized biscuits on an exclusive basis to the airline industry in the United States.



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