Braunschweig/Dublin, 27 October 2009 - After having successfully entered this market in 2006 with SUGARpartners, a joint venture with Greencore Sugar Ltd. (Ireland), Nordzucker now can announce that it has acquired Greencore's 50% shareholding in SUGARpartners as of immediate effect and will operate the company as sole owner.
In this connection, Nordzucker has also acquired the well established brands of Siucra, McKinney and Castle from Irish Sugar Ltd. Customers of SUGARpartners will notice no changes resulting from the share acquisition. All parties have agreed to treat details of the transaction as confidential.
Attractive market with outstanding prospects
Following the handing back of the whole Irish sugar production quota consequent to the reformed sugar market regime (CMO), the entire annual consumption has to be imported. Against this background, presence on the Irish market particularly requires proven expertise in European distribution and logistics. Nordzucker is ideally equipped to meet these challenges. Other positive factors all of which also emphasise the opportunity offered by the Irish sugar market, include a growing population, a continuously rising birth rate, as well as a strongly developed food manufacturing and retail market.
Goals: expand market presence and range
This move emphasises the commitment of Europe’s second largest sugar producer to further develop this market and through increased choice to improve its market position further. Mats Liljestam, Chief Marketing Officer of Nordzucker AG: “This step is an expression of our clear commitment to the Irish market. The acquisition of these successful and established brands along with the liquid facility in Mallow leaves SUGARpartners perfectly placed to increase its presence and improve its offering to Irish sugar consumers.”
Concerning Nordzucker Group’s strategic plans, Mats Liljestam referred to the companies` leading role in the reorganisation of the European market: “We have always emphasised that we intend to proactively move forward with the consolidation of our market whenever appropriate options arise. This step again demonstrates that we are forging ahead with that intention.”
SUGARpartners’ customers not affected by owner change
The acquisition by Nordzucker and the consequent changes to the company structure will have no implication for SUGARpartners’ customers. The reliable and effective range of services will also continue in place without any restrictions.