The Executive Board of Koninklijke Wessanen nv, the international food group, today announced that Tree of Life Inc., its marketing and distribution company in natural & specialty foods in North America, has reached an agreement to purchase Preisco Foods Ltd. and Jentash Specialty Foods Limited Partnership (Preisco/Jentash Foods), Vancouver, Canada.
Preisco/Jentash Foods distributes specialty and health food to supermarkets and the out-of-home channel in Western Canada, with total sales of approximately CAN$42 million. The Preisco/Jentash Foods business will be combined with the Ashley Koffman division of Tree of Life Canada.
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The acquisition of Preisco/Jentash Foods fits in with Wessanen’s strategy to further concentrate on healthy, natural food and specialties for the health and quality conscious consumer. It will further reinforce Wessanen’s network in the Canadian supermarkets and out-of-home channel, thus further expanding Wessanen’s position in the North American wellness market.
The acquisition will be paid for in cash and will directly contribute to the earnings per share excluding amortization of goodwill. The transaction is expected to close within the next few weeks.
COMPANY PROFILE
Koninklijke Wessanen nv is a multinational food company based in the Netherlands which operates on the European, American and Asian markets. We market, distribute and produce wellness products which consumers perceive as natural and wholesome, easy to prepare or indulgent. Knowledge of consumer trends and a clear emphasis on innovation are the basis for growth and continuity in all our companies.
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By GlobalDataWessanen generates annual sales of EUR 3.9 billion. Shares of Koninklijke Wessanen nv are quoted on the stock exchanges in Amsterdam, London, Frankfurt, Dusseldorf and EBS Switzerland. Sponsored ADRs are traded in the United States.
