Sligro reinforces position in Dutch fish market

J. Smit Vishandel B.V. and Sligro Beheer N.V. announce that their years of intensive cooperation are likely to result in all the shares of J. Smit Vishandel B.V. being acquired by Sligro Beheer N.V.

Sligro acquired a minority interest in J. Smit Vishandel B.V. in 1999. The latter operates fish departments at 18 Sligro locations and also has a state-of-the-art fish processing and preparing plant in Veghel. Smit Vis is one of the largest suppliers of fish in the Dutch market and the only one with national coverage.

Smit Vis recorded turnover of €27 million in 2001, with most of its sales being to hotels, restaurants, business caterers and institutional customers. It buys its fish throughout the world. The acquisition by Sligro will also mean the opportunity to sell pre-packed fresh fish within Sligro´s food retailing activities in, for example, the EM-TÉ and Golff supermarkets. Smit Vis has around 100 employees. The acquisition will have no adverse consequences for their jobs.

Sligro Beheer N.V. has both food service and food retailing activities, which focus directly and indirectly on the overall food and drink market in the Netherlands. The group operates a multi-channel strategy with various forms of sales and distribution (both self-service and deliveries) and via various distribution channels.

In accordance with the Social and Economic Council´s Merger Code, the employee organisations and the Social and Economic Council have been advised of the planned acquisition. The Works Council has been requested to give its formal opinion. The transaction is expected to be completed in early July 2002.

Sligro Beheer N.V. also announces that the alliance between Sligro and Grobak Holding B.V. has been terminated as a result of the limited opportunities for synergy. Sligro has sold its 28% interest in Grobak to the other shareholders, with a modest book profit being earned on the transaction.

(source: Sligro)

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