Ackermans & van Haaren (acting through its 74% subsidiary Sofinim) has reached an agreement with the family Patrick Maas and the management of Manuchar, led by Mr Philippe Huybrechs, for the acquisition of a 20%-stake in Manuchar. Sofinim has also an option to increase its participation to 30%.
Manuchar, located in Antwerp, is a trader, distributor and a logistics player mainly active in chemicals, steel and wood. Over the past years Manuchar recorded a strong growth. In 2000, turnover amounted to € 120 million with a result after taxes of € 0.5 million. In 2006, consolidated turnover of Manuchar amounted to € 469 million, on which Manuchar realised an EBITDA of € 24 million and a result after taxes of € 9 million.
More specifically, Manuchar provides its customers with:
- sourcing of products (mainly chemicals, steel and wood) through the world
- organisation of logistics between producer and customer
- financing of goods during transportation
- further handling and repackaging of goods
- distribution and marketing of these products through its local network.
Manuchar offers this services through a wide local distribution and sourcing network which extends today to 25 countries in Latin America, Africa, the Middle East and larger parts of Asia, with own offices in:
- Latin America:
- South America: Brazil, Venezuela, Colombia, Ecuador, Peru, Bolivia, Chile and Argentina
- Central America: Mexico, El Salvador, Honduras
- Caribbean: Dominican Republic, Cuba
- Africa: Nigeria, South Africa, Uganda
- Asia: China, India, Thailand, the Philippines, Hong Kong
- Europe: Belgium, Oekraïne, Russia
Its wide network enables Manuchar to offer her clients a single point of contact for global sourcing and distribution of goods, across continents, down to more remote areas. In particular, in these remote areas, the combined offer of logistics and financing are the key to commercial success.
Through the further development of its local presence in Asia and Africa Manuchar aims to offer her clients a wider logistic platform and to further diversify its services and products.
With this transaction AvH concludes a long-term partnership with the family Maas and the management of Manuchar and wishes to support the group in the realisation of her ambitious development plans.
Ackermans & van Haaren is a diversified group active in 4 key sectors: dredging, environmental and construction services (DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere, a leading contractor in Belgium), Real Estate and related services (Leasinvest Real Estate, a listed real-estate investment trust with real estate assets of approximately € 450 million - Extensa, an important land and real estate developer focused on Belgium and Luxemburg), private banking (Bank Delen, one of the largest independent private asset managers in Belgium - Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions) and private equity (Sofinim, one of the largest private equity providers in Belgium, and GIB).
The group concentrates on a limited number of strategic participations with an important potential for growth. Market capitalisation of AvH is over € 2.4 billion. As of March 2nd 2007, the AvH share has been included in the reference index BEL20 of Euronext Brussels.
All press releases issued by AvH and its most important group companies as well as the 'Investor Presentation' can also be consulted on the AvH website: www.avh.be.
For further information please contact:
Luc Bertrand Philippe Huybrechs
CEO - Chairman of the Executive Committee Managing Director
Ackermans & van Haaren NV Manuchar NV
Tel. +32 (0)3 231 87 70 Tel. +32 (0)3 640 93 00
e-mail : dirsec@avh.be e-mail: philippe.huybrechs@manuchar.com
website: www.avh.be website: www.manuchar.com
Matthias De Raeymaeker
Investment Manager
Sofinim NV
Tel. +32 (0)3 897 92 30
e-mail : m.deraeymaeker@sofinim.be
