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DURING THE ACTION

18.69 EUR

+ 0.32 %

02/04/2012 Handover of effective control of Bonduelle’s US and Russian acquisitions

Bonduelle confirms the acquisition, on the one hand, of three processing plants and a packaging centre for frozen vegetables in the United States by its subsidiary Bonduelle North America, and on the other hand, of the industrial and commercial assets of co-operative Group Cecab in Russia.
With the handover of effective control conducted on 30 March, all activities linked to these acquisitions, which were announced on 9 March 2012 and 4 October 2011 respectively, will be consolidated into the accounts of Bonduelle Group as from 1 April, i.e. for a period of three months of the current financial year ending on 30 June.

 

In the United States, Bonduelle's acquisition, which was granted authorisation by the US Competition Authorities on 19 March, consists in the purchase of assets, namely four industrial frozen vegetable sites previously belonging to Allens. These three frozen vegetable processing plants located in Bergen, Oakfield (State of New York) and Fairwater (Wisconsin), as well as the packaging plant in Brockport (State of New York) will reinforce the agro-industrial structure of Bonduelle North America, which owns 7 production plants in Canada located in Quebec and Ontario. Bonduelle North America, which will realise on a full-year basis 50% of its turnover in the United States and 50% in Canada, becomes the market-leading brand name in frozen vegetables in this major zone in the east of the North American continent, which has a population of 200 million.
In Russia, the transaction that Bonduelle Group has just concluded with French co-operative group Cecab concerns the plant in Timachevsk located close to the Bonduelle plant in Novotitarovskaia (in Krasnodar Krai in south-western Russia), a 6000ha collective farm that will add to the 3500ha already owned by Bonduelle and the Globus brand in the CIS countries.
These two acquisitions will entail, as of the next financial year, a change in the geographical breakdown of the activities of Bonduelle Group, which is expected to realise 1/3 of its turnover in France, 1/3 in the other European Union countries and 1/3 outside of Europe.

 

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Email: catherine.richard@rp-carrees.com
Anne-Sophie Joly – RP carrées  Tel. 03 28 52 00 56 Email: asophie.joly@rp-carrees.com