Wessanen Starts Divestment of US Subsidiary
Royal Wessanen has started the divestment process of its US subsidiary American Beverage Corporation (ABC), which is now considered non-core. The move is in line with Wessanen’s strategy to focus on organic foods inEurope.
The divestment is expected to be finalised in the fourth quarter of the year. The proceeds from the sale will be primarily used to further grow Wessanen’s European activities, both autonomously and via add-on acquisitions, while maintaining a conservative capital structure. ABC will be reported as ‘discontinued operations’ as of the second quarter 2012.
Operating mainly in France, the Benelux, the UK, Germany and Italy, Royal Wessanen is a leading company in the European organic food market. In 2011, Wessanen generated revenue of Eur706 million with 1,998 employees. The group’s brands include Bjorg, Whole Earth, Zonnatura, Bonneterre, Ekoland, Allos and Tartex.
