Blog: How healthy will the future be for Wessanen?
Dean Best | 25 February 2010
The focus was on the future at So Good and Kallo maker Wessanen in Amsterdam today (25 February).
The Dutch food group's recent travails are well documented and, after posting losses of EUR220m for 2009, the company's management was keen to outline the business' ambitions.
The downturn may have hit sales of organic food in markets across Europe but Wessanen believes there is long-term potential in the category.
CEO Frans Koffrie also talked up the company's plans for investment behind its brands, as well as the prospect of bolt-on acquisitions.
The market, however, seemed less than impressed, with Wessanen's shares plunging by more than 13% today.
The hit to the share price may have been due to Wessanen's hints that it may need to restructure its balance sheet and with a share issue a possible option.
However, Wessanen's plans to be Europe's "organic food champion" will demand some serious investment and a level of spending that could hit the company's margins.
What's more without a recovery in the organic food sector within the next two years, Wessanen's investment could reap few rewards - and perhaps cause more pressure on the company's already-fragile balance sheet.
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