The Vaasan & Vaasan
Group signed the closing documents of Culinor AS
acquisition on May 26th, 2008 after receiving Norwegian Competition Authority
approval for the transaction.
On May 29th, 2008 Culinor AS, 100% owned by the Vaasan & Vaasan Group,
acquired HoReCa and service trade bake-off business
of Mills DA. The acquisition is subject to Norwegian Competition Authority
approval and completion of transaction. In 2007 the turnover of HoReCa and service
trade bake-off business of Mills DA was approximately EUR 11.5 million (NOK
90.5 million). The combined year 2007 turnover of Culinor
AS and acquired Mills DA business is EUR 26.6 million (NOK 209.3 million).
Vaasan & Vaasan Group
is the leading producer of fresh bread, bake-off, crisp bread and other bakery
products in Finland and the Baltic States. The Group is also the number two
producer of bake-off products in the Nordic region and the second largest
producer of crisp bread in the world.
The acquisitions of Culinor AS and HoReCa and service
trade bake-off business of Mills DA further strengthen Vaasan & Vaasan
Group's position in the Nordic bake-off market. Vaasan & Vaasan Group
bake-off business unit consists of Nordic Bake Off AB
in Sweden with production sites in Fagersta and
Gotland, Culinor AS in Norway, and Vaasan &
Vaasan Oy with Joutseno
bake-off production facility in Finland. After the acquisitions the Group
pro-forma bake-off turnover exceeds EUR 125 million (NOK 980 million) with some
400 employees.
"The Norwegian
bake-off market is estimated to continue to grow strongly. The acquisitions of Culinor AS and HoReCa and service
trade bake-off business of Mills DA give us an excellent opportunity to develop
our bake-off business and further consolidate our strong position in the Nordic
market", says Kalle Tanhuanpää,
CEO of the Vaasan & Vaasan Group.
For further information,
please contact:
The Vaasan & Vaasan
Group:
Kalle Tanhuanpää,
Chief Executive Officer,
Tel. +358 204 46 2003, e-mail: kalle.tanhuanpaa@vaasan.com
Nordic Bake Off AB:
Bernt Lindberg, Managing
Director,
Tel. +46 8 619 3401, e-mail: bernt.lindberg@nordicbakeoff.se
Culinor AS:
Ernst R. Bjaarstad,
Managing Director,
Tel. +47 901 09 969, e-mail: ernst@culinor.no
The Vaasan & Vaasan Group:
The Vaasan & Vaasan Group is the leading bakery business in Finland
and the Baltic region, and the second-largest Nordic operator in bake-off
products. Vaasan & Vaasan is also the second-largest crisp bread producer
in the world. The Group consists of Vaasan & Vaasan Oy in
Finland, A/S Leibur in Estonia, A/S Hanzas Maiznicas
in Latvia, UAB Vilniaus Duona in Lithuania, Nordic Bake Off
AB in Sweden, and Culinor AS in Norway. Each Baltic subsidiary is the
market leader in its own country, while Nordic Bake Off AB is the
second-largest producer of bake-off products in Sweden. In 2007 the Group had a
turnover of approximately EUR 363 million (NOK 2,858 million) and it employed
some 3,300 people.
www.vaasan.com
Print version | To the top
