The CEO of German industrial bakery group Kamps says he is open to discussion about a possible cooperation with Italian pasta group Barilla.
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Heiner Kamps told the Welt am Sonntag that talks had been held with Barilla in the past, and he did not rule out some kind of agreement with the group in future. Kamps said that it was not inconceivable that Barilla would take a stake in the German bakery group.
Last November, Guido Barilla, who heads up the family-owned pasta group, told Reuters the company was on the lookout for potential acquisitions. Kamps is valued at around US$821m although it has a debt load of €751m (US$655.2m). This is expected to be reduced by €60m this year and 490m next year, following a debt reduction of €54m in 2001.
Kamps earlier reported a 3.5% hike in 2001 core operating profits as sales rose 13%. Profits for 2002 are forecast by the company to show a “significant” rise.
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