Associated British Foods PLC
6 July 2000
Further Polish Sugar Acquisitions for ABF.
Associated British Foods, the international food, ingredients
and retail group has announced agreement, through its British
Sugar Overseas (BSO) subsidiary, to acquire a further four
beet sugar plants in Poland. ABF has been building its stake
in Poland since the first two factories were acquired in 1989
and sees this acquisition as an opportunity to significantly
improve its market share and efficiency in a market offering
good growth potential.
Prior to these acquisitions, which are subject to approval by
the Polish authorities, BSO operated six factories with a
production quota of 114,000 tonnes of white sugar. The company
will now account for 171,000 tonnes of domestic sugar
production making it the single largest foreign investor in
the Polish sugar industry.
Two of the factories, Dobre and Ketrzyn, were formally owned
by a consortium of the Polish agri-processing group, Rolimpex
and Danish company, Danisco. Of the other two, Guzow was owned
by Rolimpex and Pelplin by Danisco. The total value of the net
assets being acquired is in the region of £12 million.
ABF Chief executive, Peter Jackson said, 'These are important
acquisitions in the expansion of our Polish sugar business. We
have demonstrated with our other Polish factories how we can
add value through our expertise and investment and this
together with the potential of the Polish market offers
further opportunities for growth.'
For more information, please call:
John Bason
Finance Director
Tel: 020 7589 6363
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