Review to exit all North American branded and distribution businesses
Focus strategically on natural, organic and specialty food products in Europe
Change European segment reporting
The Executive Board of Royal Wessanen nv today announces that Wessanen’s
strategy going forward will focus on growing its presence in the European
natural, organic and specialty food markets through organic growth and
acquisitions. In the coming months, Wessanen will regroup and further focus
these activities, and expects to provide more detail on its strategy later this
year when it has concluded a strategic review of its European business.
In February of this year, Wessanen already announced a review of the business
case to sell its US based drinks company American Beverage Corporation.
Wessanen will also start an investigation into exiting all of its other North
American businesses, consisting of the distribution business Tree of Life North
America, and the branded businesses PANOS Brands and Liberty Richter.
In light of its strategic focus, Wessanen will change its European reporting
segments with immediate effect. From now on, Wessanen’s European businesses
will consist of Wessanen Europe (natural, organic and specialty food products)
with revenue of EUR 501 million in 2008 and Frozen Foods with revenue of EUR
158 million in 2008. The management of branded and distribution activities in
the various European countries is increasingly integrated. Hence, these
activities are less distinctive as separate reporting segments. Details of the
change in reporting segments are provided in the appendices.
Wessanen will announce its first quarter results on May 5, 2009 ahead of the
May 13 date communicated earlier.
Wessanen’s Annual General Meeting of Shareholders is held today at 2.30 p.m. in
Royal Wessanen nv
- Breakdown European businesses in Wessanen Europe and Frozen Foods
- Breakdown of 2008 quarterly segmental revenue and operating profit
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