London / UK. (abf) Associated British Foods PLC (ABF), international food, ingredients and retail group, has announced that it has reached agreement with UK breakfast cereal and cereal bar business, W Jordan + Son (Silo) Limited, to merge the Jordans business with its Ryvita crispbread and healthy snacks business. ABF will have a 62 percent interest in the combined business with the balance held by the existing shareholders of Jordans. The Jordan family will remain fully involved in the business. Completion is subject to certain regulatory clearances and is expected to take place during the third quarter of 2008.
Jordans is a successful and leading breakfast cereal and cereal bar business in the UK. It was founded by the Jordan family from whom ABF acquired a 20 percent shareholding last year. The Jordans brand has a strong and differentiated consumer position based on its use of natural, organic and Conservation Grade® ingredients. Its products range from breakfast cereals to cereal bars, muesli and oat porridge. The company has three manufacturing sites and has its head office in Biggleswade, Bedfordshire. It had unaudited sales of 85 million GBP for the year ended 29 February 2008 and unaudited gross assets of 42 million GBP at 29 February 2008.
Ryvita has an 80 year heritage and has become a byword for crispbread. Ryvita is committed to promoting healthy eating and provides a range of healthy snacks utilising wholegrain cereals, which are low in fat and calories. It has successfully extended its brand with the development of a range of healthy snacks including Minis and cereal Goodness bars. It has manufacturing sites in Poole, Dorset and Stockport, Greater Manchester.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Orkla ASA: reports strong profit improvement in Q2-2024
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company