IFR Ifr Capital

 

TIDMIFR TIDMUNIQ 
 
RNS Number : 3774C 
IFR Capital PLC 
12 November 2009 
 

IFR Capital PLC 
 
 
Acquisition of German and Polish Assets 
 
 
 
 
IFR Capital Plc ("IFR" or the "Company"), the AIM-quoted investment company 
focused on consolidation opportunities in the European retail food sector, is 
pleased to announce that its subsidiary Homann Feinkost GmbH ("Homann") 
has entered into an agreement, subject to certain conditions including all 
regulatory approvals, to acquire the German and Polish business of Uniq plc 
("Uniq") for payment of EUR 28.5 million to be satisfied in cash. 
 
 
The Company expects the regulatory approval process to take up to four months to 
complete. 
 
The German business of Uniq consists of (i) Nadler Feinkost GmbH ("Nadler"), one 
of the leading suppliers of chilled prepared salads, fish specialties and other 
delicatessen products in Germany with production facilities in Bottrop, (ii) the 
regional salads brands Pfennigs and Hopf with production facilities at Sarstedt 
and Floh and (iii) the foodservice operations in Germany. Uniq's German business 
reported an operating loss of EUR 6.0 million in the year to 31 December 2008 
and at that date had gross assets of EUR 63.9 million and net assets of EUR 19.8 
million. The Company believes that it is in Nadler's longer term interest that 
it be managed as part of IFR. 
 
 
The Polish Business of Uniq comprises Uniq Lisner Sp. z.o.o ("Lisner"), a market 
leader in chilled herring, bread spreads and chilled salads in Poland with 
production facilities in Poznan. Lisner made an operating profit of EUR 4.1 
million in the year to 31 December 2008 and at that date had gross assets of EUR 
45.7 million and net assets of EUR 27.2 million. 
 
 
The acquisition of Nadler and Lisner is closely aligned with IFR's long-term 
objective of creating a leading pan-European food business with a view to 
acquiring synergistic businesses to drive IFR's further growth. 
 
 
Heiner Kamps, CEO of IFR commented: "We are very satisfied with this enlargement 
to our portfolio. The acquisition of Nadler / Lisner by Homann is a logical 
step, which brings leading brands together so as to enjoy synergistic benefits 
for IFR." 
 
 
 
 
For further information please contact: 
 
 
+-----------------------------------------------+----------------------+ 
| IFR Capital PLC                               |                      | 
+-----------------------------------------------+----------------------+ 
| Michael Ioannou                               |   +357 (0) 22 318734 | 
+-----------------------------------------------+----------------------+ 
|                                               |                      | 
+-----------------------------------------------+----------------------+ 
| Charles Stanley Securities                    | +44 (0) 20 7149 6000 | 
+-----------------------------------------------+----------------------+ 
| Nominated adviser and broker                  |                      | 
+-----------------------------------------------+----------------------+ 
| Rick Thompson / Philip Davies / Ben Johnston  |                      | 
+-----------------------------------------------+----------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQBRBDBXSBGGCB 
 

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