June 24, 2019 / 4:40 AM / a month ago

BRIEF-Bell Food Sells German Sausage Business To Zur Mühlen Group

June 24 (Reuters) - BELL FOOD GROUP AG:

* PARTING COMPANY WITH ITS GERMAN SAUSAGE BUSINESS, WHICH IT IS SELLING TO ZUR MÜHLEN GROUP

* WILL FOCUS ON AND FURTHER EXPAND ITS STRONG POSITION IN AIR-DRIED HAM SEGMENT

* ZUR MÜHLEN GROUP WILL TAKE OVER PLANTS IN SUHL AND BÖRGER TOGETHER WITH ALL EMPLOYEES

* SALE OF SAUSAGE BUSINESS WILL AFFECT JOBS IN ADMINISTRATION AND CENTRAL SERVICES DEPARTMENTS OF BELL GERMANY

* SALE WILL REDUCE NET REVENUE BY SOME CHF 85 MILLION

* SALE OF GERMAN SAUSAGE BUSINESS WILL HAVE A POSITIVE IMPACT ON BELL FOOD GROUP’S CASH FLOW AND EBIT OF SOME CHF 10 MILLION PER YEAR FROM 2020

* DEPENDENCE ON FLUCTUATIONS IN PRICES FOR RAW MATERIALS WILL ALSO DECREASE

* SALE WILL INCUR MOSTLY NON-CASH ONE-OFF COSTS OF AROUND CHF 35 MILLION IN 2019 FINANCIAL YEAR

* PARTIES HAVE AGREED TO KEEP DETAILS OF TRANSACTION CONFIDENTIAL Source text: bit.ly/2ZBsdR0 Further company coverage: (Gdynia Newsroom)

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