The Executive Board of Koninklijke Wessanen, the international food group, today announced that Campari’s shareholders, i.e. the Garavoglia family, Wessanen and UBS, have agreed to explore an initial public offering (IPO) of Campari. No firm decision has been taken on the timing of such an IPO, but it is tentatively expected to take place in 2001.
Wessanen will reduce its current 35% interest in Campari in connection with an IPO.
More announcements will be made closer to the time of the IPO.
Executive Board Koninklijke Wessanen nv
Based in The Netherlands, Wessanen produces and markets a wide range of branded and private label dairy, breakfast, frozen and chilled foods. US units (some 50% of sales) include market leader Kemps Frozen Yogurt; Axelrod, Crowley, and Heluva Good Cheese dairy products; and Tree of Life natural and specialty foods distribution.
Wessanen ordinary shares are listed on the Amsterdam, London, Swiss and German stock exchanges and trade in the US in ADR form. Each ADR is equal to one ordinary share and prices may be accessed on the NASD OTC Bulletin Board under the symbol KNKWY. Prices for the ordinary shares may be accessed on Bloomberg under the symbol WESS NA.