REG - Assoc British Foods - Acquisition

Fri Jul 6, 2012 2:00am EDT

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RNS Number : 9605G
Associated British Foods PLC
05 July 2012
 



Associated British Foods plc

 

Associated British Foods acquires Elephant Atta, the UK's leading ethnic flour brand

 

 

                                                                                          6 July 2012

 

Associated British Foods plc ("ABF"),the international food, ingredients and retail group, today announces the acquisition by Westmill Foods of Elephant Atta and smaller related ethnic flour brands from Premier Foods plc ("Premier Foods").

 

Elephant Atta was established in 1962 and is the leading ethnic flour brand in the United Kingdom.  The brand is sold in a variety of medium, self-raising, white, brown and wholemeal flours and is used to make chapatti and other unleavened flat bread for daily consumption.  Westmill Foods is the UK's leading provider of ethnic food products to ethnic retailers and wholesalers.

 

George Weston, Chief Executive of Associated British Foods, said:

 

"Elephant Atta is the UK's leading ethnic flour brand and will complement Westmill's other leading ethnic brands including Tolly Boy rice, Rajah spices, Lucky Boat noodles and Patak's pastes and sauces."

 

Premier Foods will continue to mill and package the flour with the brands being managed independently from Westmill Foods until regulatory approval is obtained.  The cash consideration for the acquisition is £34 million.

 

 

For further information please contact:

 

Associated British Foods
John Bason, Finance Director
Tel: 020 7399 6500

 

Citigate Dewe Rogerson

Chris Barrie / Nicola Swift

Tel: 020 7638 9571

Jonathan Clare

Tel: 07770 321881

 

Notes to Editors

 

1.     Associated British Foods (www.abf.co.uk) is a diversified international food, ingredients and retail group with global sales of £11.1bn and 102,000 employees.  It is listed on the London Stock Exchange with a market capitalisation of £10.2bn.  It operates in 46 countries with significant businesses outside Europe in southern Africa, the US, China and Australia.  Its aim is to achieve strong, sustainable positions in markets that offer potential for profitable growth.  It strives to achieve this through a combination of growth of existing businesses, the acquisition of complementary new businesses and achievement of high levels of operating efficiency.

 

2.     Westmill Foods is a subsidiary of ABF and a leading specialist food company in the UK and Europe, serving the chefs and owners of Chinese and Indian restaurants and takeaways, as well as a diverse range of Indian, Pakistani, Bangladeshi, Chinese, African and Caribbean consumers.  Its product range includes high quality rice, spices, sauces, oils, flour and noodles, which it sells to ethnic wholesalers as well as cash and carry, mainstream foodservice and the grocery multiples.

3.     For further information on Premier Foods, please visit www. premierfoods.co.uk.


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