FDBusiness.com

Investment Group Considering €7.2bn Bid for DE Master Blenders

 Breaking News
  • UK Campylobacter Levels Remain Steady The top nine retailers across the UK have now published their latest testing results on campylobacter contamination in UK-produced fresh whole chickens (covering samples tested from January to March 2018). The latest figures show that on average, across the major retailers, 3.8% of chickens tested positive for the highest level of contamination; these are the chickens [...]...
  • FrieslandCampina Increases Outdoor Grazing Cows in Dairy Farms This year an extra 303 member dairy farms of FrieslandCampina, the Netherlands-based international co-operative, have switched to meadow grazing. The percentage of outdoor grazers within FrieslandCampina is expected to grow from 79.4 percent to about 81 percent in 2018. This brings the target for the year 2020 within reach, to have 81.2 percent of dairy [...]...
  • Firmenich Launches Natural and Clean Label Platform Firmenich has launched its Natural and Clean Label platform to create great tasting, natural and traceable food and beverage experiences. Combining its mastery of taste and naturals, with its world-class science and consumer understanding, Firmenich is focused on creating the most authentic flavors. Committed to full traceability, Firmenich is going far beyond today’s labelling requirements [...]...
  • Rocla’s Automation Solution Increases Safety and Saves Money at Valio’s Cheese Production Plant Valio is the leading dairy product manufacturer in Finland, and the Haapavesi plant processes and packs one of Scandinavia’s favourite cheese brands Oltermanni. Inside this factory there are two automated guided vehicles by Rocla working 24/7. Rocla has been developing and manufacturing AGVs for 35 years. These AGVs have been customised with the Oltermanni branding [...]...
  • Record High Number of New UK-based Wine Producers Opening The number of new wine producers opening within the UK in a year hit a record high last year with 80 new wine producers starting up – a rise of 25% from 64 in 2016, and more than double the 36 that opened five years ago, according to research by chartered accountants UHY Hacker Young [...]...

Investment Group Considering €7.2bn Bid for DE Master Blenders

March 24
09:02 2013

D.E MASTER BLENDERS 1753 is negotiating a possible public offer for all issued and outstanding ordinary shares in D.E MASTER BLENDERS 1753 by a Joh. A. Benckiser led investor group (JAB). D.E. Master Blenders 1753, which was spun off by Sara Lee Corp. last June, would be acquired by the private German investment company for around €7.6 billion ($9.7 billion).

D.E MASTER BLENDERS 1753 was approached by JAB regarding a potential public offer for all the Company’s issued and outstanding ordinary shares.  The price per ordinary D.E MASTER BLENDERS 1753 share currently indicated by JAB is € 12.75 (cum dividend) on a fully diluted basis, subject to the satisfactory outcome of due diligence, agreement on the transaction terms, corporate and other approvals, and certain pre-offer and offer conditions being fulfilled.

The Company’s Board has, on the basis of JAB’s non-binding proposal, agreed to allow JAB and its advisers to conduct due diligence.  This due diligence is pending.  The negotiations are in an early stage.  At this time it is uncertain whether the negotiations with JAB will result in a conditional agreement on a potential full public offer for all issued and outstanding ordinary shares in D.E MASTER BLENDERS 1753 by JAB and, if so, at what price and under which conditions.

Consistent with its fiduciary duty, the Board of D.E MASTER BLENDERS 1753 is carefully evaluating JAB’s non-binding proposal.  With respect to the decision making, the Company’s Board will give due consideration to a proper decision making process, which includes avoiding any (potential) conflict of interest by executives, and in its decision making will take the interests of all stakeholders, including the shareholders, into full consideration.

Buying Master Blenders would add to JAB’s coffee holdings, which it bolstered last year by purchasing Peet’s Coffee & Tea Inc. for about $1 billion. JAB subsidiary Coty Inc. unsuccessfully attempted a takeover last year of door-to-door cosmetics seller Avon Products Inc. for more than $10 billion.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements