AMSTELVEEN, Netherlands--(BUSINESS WIRE)--Dec. 3, 2002--The Executive Board of Koninklijke Wessanen, the international food group, today announced that the sale of Leerdammer Company, its European dairy activity, to Fromageries Bel S.A., Paris, France, has been completed. The selling price of EUR 190 million will result in a book profit of approximately EUR 100 million.
With the sale of Leerdammer Company Wessanen completes the transformation that started two years ago with the launch of the wellness strategy. Wessanen exclusively focuses on wellness food: healthy, natural food and specialties for the health and quality-conscious consumer. The proceeds of this divestiture will be utilized for the further execution of our wellness strategy.
The finalization of the transaction will not influence the previously announced outlook of 2002 and 2003 results.
Koninklijke Wessanen nv is a Netherlands-based multinational food group operating in the European and North American markets. We market, distribute and produce wellness products that the consumer perceives to be natural and healthy, easy to prepare or tasty & indulgent. Knowledge of consumer trends and a clear emphasis on innovation form the basis for growth and continuity in all our businesses.