Valora Holding: sells Gillebagaren to Continental Bakeries

Bern / CH. (vh) Having recently successfully completed the sale of three of its production companies – Roland Murten AG, Kägi Söhne AG and Cansimag France SA – Valora Holding AG has now signed a contract for the sale of its Swedish subsidiary, Gillebagaren AB. The purchaser is Continental Bakeries B.V., one of the leading private label biscuit manufacturers in Europe, with annual turnover of 250 million EUR. The contract covers the sale of 100 percent of the share capital of Gillebagaren AB. Continental Bakeries B.V. intends to continue Gillebagaren´s current production activities and to develop them further. The firm´s employees will remain employed on the same terms as hitherto.

Both parties have agreed not to disclose the sale price. The sale will be finalised once the Bundeskartellamt, the German Federal authority regulating competition issues, has approved the transaction. Negotiations regarding the sale of the highly successful production company Sørlandschips A/S in Norway are currently under way. This means that Valora´s planned divestiture of its Own Brands units is now nearly complete and the Group has thus now successfully focused its energies on its core Retail, Media and Trade Distribution divisions (press release).

Addition: Some days ago the Swiss Boulangerie fine Cornu SA announced in German and Swiss media its acquisition of the Roland Murten AG in CH-Murten and the Cansimag France SA in St. Amarin / Alsace.