Acquisitions

Associated British Foods PLC 6 July 2000 Further Polish Sugar Acquisitions for ABF. Associated British Foods, the international food, ingredients and retail group has announced agreement, through its British Sugar Overseas (BSO) subsidiary, to acquire a further four beet sugar plants in Poland. ABF has been building its stake in Poland since the first two factories were acquired in 1989 and sees this acquisition as an opportunity to significantly improve its market share and efficiency in a market offering good growth potential. Prior to these acquisitions, which are subject to approval by the Polish authorities, BSO operated six factories with a production quota of 114,000 tonnes of white sugar. The company will now account for 171,000 tonnes of domestic sugar production making it the single largest foreign investor in the Polish sugar industry. Two of the factories, Dobre and Ketrzyn, were formally owned by a consortium of the Polish agri-processing group, Rolimpex and Danish company, Danisco. Of the other two, Guzow was owned by Rolimpex and Pelplin by Danisco. The total value of the net assets being acquired is in the region of £12 million. ABF Chief executive, Peter Jackson said, 'These are important acquisitions in the expansion of our Polish sugar business. We have demonstrated with our other Polish factories how we can add value through our expertise and investment and this together with the potential of the Polish market offers further opportunities for growth.' For more information, please call: John Bason Finance Director Tel: 020 7589 6363
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