The Bel Accumulation and the MOM Group’s administration aggregation on October 20, 2016 active an acceding with LBO France to access the MOM Group. Under the agreement, Bel will become MOM’s majority actor with 65% of accustomed shares, while MOM’s administration will authority the actual 35% of accustomed shares. The administration aggregation that has led MOM’s development will abide a shareholder. Michel Larroche will abide as MOM’s CEO.
The MOM Group, majority endemic by LBO France back 2010, has accomplished incomparable business advance in France and the United States. While architecture on its actual Materne® and Mont Blanc® brands awash in France, the MOM Accumulation created the bake-apple squeezers class and developed able administration positions with its Pom’Potes® cast in France and its GoGo squeeZ® cast in the United States. Over the accomplished bristles years, MOM has angled in size, accomplishing sales of €362 actor in 2015. The aggregation employs 1,300 bodies and owns four assembly sites, including two in France and two in the United States.
The transaction will accredit Bel to actualize a above all-around amateur in the advantageous candy segment. It provides a different befalling for MOM to advance its advance accurate by Bel’s all-embracing presence. Both Bel and MOM accept congenital their identities on able and avant-garde brands, and both companies plan to accouter the complementarity of their artefact ranges, territories and automated knowhow to authorize their administration internationally.
Following absolute talks entered into on July 29, Bel and MOM won accepted approval for the planned transaction from the labor-representation bodies of both companies. Achievement of the accord charcoal accountable to the approval of French and U.S. antagonism authorities, who are accepted to aphorism by the end of the year.
The accord ethics the MOM Accumulation at €850 million. The transaction will be financed by Bel’s own banking assets and a €500-million debt issue. The Bel Group’s banking position will abide able aloft achievement of that operation.
A clamminess acceding will acquiesce Bel to access 100% of MOM’s allotment basic by April 2022.
This columnist absolution may accommodate advanced statements. Such trend and/or ambition advice should in no way be admired as balance anticipation abstracts or achievement indicators of any kind. This advice is by attributes accountable to risks and uncertainties that may be above the Company’s control. A abundant description of these risks and uncertainties is provided in the Company’s Registration Document, accessible at (www.groupe-bel.com). More absolute advice about the Bel Accumulation can be begin in the “Regulatory Information” area of the www.groupe-bel.com website.
Alice Dalla Costa [email protected]
Tel. 33 (0)1 56 03 12 12
Citigate Dewe Rogerson
Tel. 33 (0)1 53 32 84 77
Mob. 33 (0)6 64 32 81 75
Tel. 33 (0)1 53 32 78 90
Mob. 33 (0)7 60 90 89 12
Bel is an all-embracing ancestors business led by fifth-generation ancestors members.
It is the apple billy in distinct confined cheese portions.
Bel’s advance is acquired conspicuously from the ability of its amount brands, including The Laughing Cow®, Kiri®, Mini Babybel®, Leerdammer®, and Boursin® – all bazaar leaders – and the bounded mix of its business activities.
With a portfolio of over 25 all-embracing and bounded brands awash in about 130 countries, the Accumulation generated circumscribed sales of €2.9 billion in 2015.
The charge of about 12,000 employees, alive in 30 countries and 30 assembly sites about the globe, contributes to the Group’s advance strategy.
Fromageries Bel SA appear this agreeable on 21 October 2016 and is alone amenable for the advice independent herein.Distributed by Public, unedited and unaltered, on 21 October 2016 09:33:04 UTC.
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