Wessanen France, the subsidiary of Dutch food group Royal Wessanen, is to acquire Laboratoires Lehning’s shares in Distriborg Group.
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The transaction, announced today (2 September), includes a total of 159,667 shares representing 9.92% of Distriborg’s share capital. It was finalised at a price of EUR140 (US$203) per share, amounting to a total of EUR22.4m paid in cash.
Wessanen France now holds 99.6 % of Distriborg’s shares and said it will make a public offer for the remaining 0.4 % of the shares, if required, in order to delist Distriborg from Euronext Paris “as soon as reasonably feasible”.
Wessanen initially acquired 89.7% of the shares in Distriborg Group in 2000.
Wessanen said Distriborg, a food distributor, is the largest operating company within its European portfolio, with profitability already in line with its strategic target and with a strong balance sheet.
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