FRANCE: Wessanen looks to acquire 100% of Distriborg
By just-food.com | 17 October 2008
Royal Wessanen has indicated its intention to acquire the remaining 0.4% of shares in French subsidiary Distriborg Groupe, bringing its holding in the group to 100%.
The executive board of the Netherlands-based natural and specialty food group said that Distriborg has requested Euronext Paris to suspend the trading of its shares in anticipation of a public offer.
Wessanen said it intends to make a public offer for the shares it does not already hold, following the acquisition of another 9.9% of its shares as announced on 2 September.
NETHERLANDS: Wessanen issues profit warning
Dutch food group Wessanen today (3 April) warned that its first-quarter profits would be "significantly lower" than in 2008 due to competition in North America and Europe.
Top stories on just-food this week
Once again, the issue of food safety reared its head in the US and once again, a nut maker is at the centre of the outbreak. The likes of PepsiCo, Kraft Foods and Kroger have pulled lines after the country's second-largest pistachio maker announced a recall over salmonella fears. In Europe, Bakkavor booked a loss for 2008 and Cadbury announced plans to close a gum plant in Spain. And, in Asia, Heinz entered India's cereal market. These are the top stories on just-food this week.
In the Spotlight - Wessanen
Wessanen, the Netherlands-based food group, has a number of questions to answer after last week posting a drop in annual profits - and seeing the departure of its CEO. Industry watchers insist that, despite the downturn, Wessanen's focus on health food is correct but some believe an exit from the US market could help the company's core European business thrive.
17 Oct 2008 -
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