Swedish food group Sardus has said it has acquired two sandwich makers: Allt Smörgås, based in Stockholm, and Smörgåsfabriken, based in Norrköping.
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The acquired companies manufacture and sell ready-to-eat sandwiches and salads, primarily to convenience food retail outlets and petrol stations. Sardus said the two companies are both “profitable and in a strong growth phase”. In 2004 they had combined net sales of approximately SEK120m (US$17.9m).
Sardus said the acquisition is part of its expansion strategy, which includes a focus on light ready-to-eat meals. The acquisition is expected to increase Sardus’ earnings per share in 2005.
The two companies will be integrated to form the basis of a new business unit – Sardus Light Meals.
“The market for ready-to-eat sandwiches has grown rapidly in recent years. In an international perspective, however, there is still substantial room for development. Launching a new business unit intensifies the focus on light meals. Our intention is to assemble a complete customer offering of light meals in stores, through our own range and additional acquisitions in the future,” said Sardus’ president, Ragnar Bringert.
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By GlobalData
