Wessanen has signed an agreement to sell its U.S. subsidiary American Beverage Corporation (ABC) to Harvest Hill Beverage Company, a portfolio company of the U.S.-based firm Brynwood Partners VII L.P., for approximately U.S.$55 million on a cash and debt free basis and subject to working capital adjustments. The closing is expected in Q2 and is subject to certain conditions.
This divestment completes Wessanen's exit from the USA and its transformation into a pure player in healthy and sustainable food. Our strategy is to further build our own brands such as Bjorg, Allos, Alter Eco, Bonneterre, Clipper and Zonnatura in the healthy and sustainable food market in Europe.
Christophe Barnouin (CEO): "This year, we are celebrating that our company is existing for 250 years. For us, the divestment of ABC therefore feels to come at the right moment. It is our final step in becoming a focused player in healthy and sustainable food in Europe. This is also what we are and what we stand for: making food that is good for people and our planet by focusing on organic, fair trade, vegetarian and good nutrition.
For more information
Carl Hoyer (VP Corporate Communications & Investor Relations)
Phone +3120.3122.140 / +316.123.556.58
Email carl.hoyer@wessanen.com
Twitter @Wessanen_250
