AMSTELVEEN, Netherlands--July 30, 2002--The Executive Board of Koninklijke Wessanen nv, the international food group, today announced that an agreement has been reached to acquire Kallo Foods Ltd, based in Wormley, United Kingdom.
Kallo is the leading brand for an organic product range in the United Kingdom. This extensive range includes healthy products such as rice cakes and breadsticks. Kallo Foods' products are available at most supermarkets and the better health food shops in the United Kingdom. Kallo Foods has sales of approximately EUR 22.5 million.
This acquisition is the next step in executing Wessanen's wellness strategy to further concentrate on natural and specialty foods for the health and quality conscious consumer. Kallo Foods offers Wessanen a strong brand with a premium quality in the UK organic food market. Kallo Foods will be part of Wessanen's Tree of Life Europe division. Following the acquisition of Nature's Store in March of this year, the acquisition of Kallo Foods will further strengthen the existing activities and brands in the United Kingdom.
Mac Zondervan, chairman of the Executive Board, comments: "Kallo Foods adds strength to our core activities in the field of natural and specialty foods. It provides us with a well positioned brand, a nice product range and a well-managed organization. And it broadens our UK base, consisting of Brewhurst, Nature's Store and now Kallo Foods, which gives us brand presence in both supermarkets and natural food stores."
The acquisition will be paid in cash and will directly contribute to the earnings per share before amortization of goodwill.
Koninklijke Wessanen nv is a multinational food company based in the Netherlands which operates on the European, American and Asian markets. We market, distribute and produce wellness products which consumers perceive as natural and wholesome, easy to prepare or indulgent. Knowledge of consumer trends and a clear emphasis on innovation are the basis for growth and continuity in all our companies.
Wessanen generates annual sales of EUR 3.9 billion. Shares of Koninklijke Wessanen nv are quoted on the stock exchanges in Amsterdam, London, Frankfurt, Dusseldorf and EBS Switzerland. Sponsored ADRs are traded in the United States.