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Lotus Bakeries NV and Nutrexpa S.L. Make Joint Bid for Galletas Artiach S.A.U.

Monday, 26 Nov 2012 02:51am EST 

Lotus Bakeries NV (Lotus Bakeries) announced that the Company and Nutrexpa S.L. (Nutrexpa) have made a joint bid for Galletas Artiach S.A.U. (Artiach). Nutrexpa will take over the shares of this Spanish biscuit manufacturer and Lotus Bakeries will acquire the intellectual property rights to the Dinosaurus children's concept outside Spain, Portugal, Morocco, Algeria and Mexico. The transactions are conditional upon clearance from the antitrust authorities. Since the Company chooses to produce its products itself, a study has already been undertaken to determine how Dinosaurus biscuits can be produced in Lembeke. This will require approximately EUR 8.0 million of additional investment. The new production line is expected to be operational by mid-2013. An agreement has been concluded with Nutrexpa whereby Lotus Bakeries can, if necessary, have the current Dinosaurus cookies produced by Nutrexpa for a certain period until 2014. 

Company Quote

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24 Jul 2014