Alfesca announces that discussions relating to its proposed acquisition of the
UK private label ready meals supplier, Oscar Mayer, have been terminated.
The decision was taken following significant raw material cost inflation in
recent months, which has impacted the results of the Company and caused the
trading environment within the ready meals sector in the UK to deteriorate.
Given the current uncertainties, the proposed transaction would not be
conducive to Alfesca creating value for its shareholders at this time.
Alfesca will continue with its strategy to further develop and grow its
business. With the benefit of a strong balance sheet and support of its
banking consortium and key shareholders, Alfesca is evaluating new
opportunities taking into account current market conditions. Further
announcements will be made in due course.
Enquiries:
Antony Hovanessian,
Business Development
Director, +354 477 7000
Hrefna Ingolfsdottir
Head of Corporate Communications
+354 477 7007
About Alfesca
Alfesca is a leading European producer in its selected categories of smoked
salmon and other fish; foie gras and duck products; prawns and shellfish and
blinis and spreadables. The Company's products are sold under its own brand
names, including Labeyrie, Blini, Delpierre, Skandia, Lyons and Farne. The
Company also has a substantial presence in the private label markets in the UK,
France and Spain. Annual turnover is €616 million and 3,500 employees work for
the Group.
Alfesca is listed on OMX Nordic Exchange in Iceland (OMXI: A).
Information about Alfesca can be found on: http://www.alfesca.com
