Wessanen Postpones US Disposal

 Breaking News
  • UK Water Drinks Approach 4,000 Million Litres UK consumption of water drinks rose 7% in 2017 to nearly 4,000 million litres, with a retail value of £3.1 billion, according to a new report from global food and drink experts Zenith. Sales of plain bottled water in retail packs increased by 8% to over 3,100 million litres, while volume through bottled water coolers [...]...
  • Nestlé Brings Innovative Nitrogen Infused Coffee to the UK Nestlé is launching a brand new product for coffee fans in the UK and Ireland. Nescafé Azera Nitro is a coffee drink infused with nitrogen for a smoother taste. It will be available in Americano or Latte flavours. Nescafé Azera Nitro Americano is a refreshing and smooth black coffee infused with nitrogen. Nescafé Azera Nitro [...]...
  • ADM Realigns Business Segments to Further Accelerate Growth Archer Daniels Midland Company (ADM) has announced the realignment of its business segments across four units – Carbohydrate Solutions, Nutrition, Oilseeds and Origination. The new segments better reflect ADM’s operating structure and will enable the company to further highlight the differentiation of its product and service offerings and enhance its ability to respond to the [...]...
  • Highland Spring Selects Mainsaver CMMS Spidex has announced that Highland Spring, a leading supplier of natural source bottled spring water, has selected Mainsaver CMMS to support best-practice maintenance at its plant in Blackford, Perthshire. The new facility, part of a £50 million investment programme, officially opened in July 2017 and was designed to increase Highland Spring’s production capacity by 50 [...]...
  • Ornua Delivers Record Revenue Ornua, Ireland’s largest exporter of Irish dairy products which supplies to over 110 countries worldwide, has reported record revenue of €2.1 billion for the year ended 30 December 2017. It marks the first year of Ornua’s new five-year growth plan, ‘Ornua 2021’, which positions the business as a leading global dairy organisation that delivers results [...]...

Wessanen Postpones US Disposal

Wessanen Postpones US Disposal
December 17
14:08 2012

Wessanen has decided to postpone the divestment of its US subsidiary American Beverage Corporation (ABC). Wessanen started the divestment process of its US subsidiary in June in line with its strategy to focus on organic food in Europe. Following a comprehensive process, which showed a good level of interest from strategic and financial parties alike, Wessanen has concluded that the bids received to date do not adequately reflect ABC’s fundamental value.

ABC has delivered very strong and profitable growth over 2010-2012. It also remains the clear market leader in an attractive and sustainable market. However, despite ABC’s continued success, the uncertainties attached to its relatively short track record in the emerging ready-to-drink frozen pouch category appears to have held back interested parties’ views on value.

In light of this and ABC’s outlook for 2013, Wessanen is of the view that a postponement is the right course of action in order to realise better value for shareholders at a later stage.

As a consequence, ABC will be again reported as ‘continuing operations’, reversing its reporting as ‘discontinued operations’. Wessanen expects to recognise an additional deferred tax asset in the fourth quarter as a result of the available tax losses carried forward.

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • March 21, 2018World Olive Oil Exhibition
  • March 28, 2018FOOD INDUSTRY
  • April 4, 2018The leading event for the snack and food-on-the-go market
  • April 5, 2018Slow food The forum for good taste
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here