RIE: Rieber sells Sopps brand
(Thomson Reuters ONE) - Rieber & Søn ASA has entered into an agreement with LantmännenCerealia AB to sell the Sopps brand and related portfolio of pastaproducts, among others spaghetti and macaroni.Sopps has an annual turnover of approximately NOK 60m. No employeesor assets will be included in the transaction.The sale of Sopps is a part of Rieber & Søn's "Our Future" programmewhere the emphasis is on core activities. Pasta is a product categorywhere the company redistributes trading products, but where there isinsufficient scope for Rieber & Søn to exploit either its relativeadvantages in the field of product development or its position as thetaste champion in local markets. The sale of Sopps will give ourNorwegian business greater scope to focus on categories where productdevelopment and new products can provide growth and higherprofitability.The sale of Sopps will give an accounting gain of around NOK 50m. Thetakeover is expected to be effected at the turn of the year and issubject to the approval of the Norwegian competition authorities.Bergen, 30.09.2009Contact persons:CFO Tor Lund, tlf.: +4795272810Director Business Unit Rieber & Søn Norway, Jørgen Wiig, tlf.:+4790790740Director of Communications Geir Mikalsen, tlf.: +4790620851This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 30.09.2009 - 08:03 Uhr
Sprache: Deutsch
News-ID 6392
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