TIDMIFR
RNS Number : 0549Q
IFR Capital PLC
03 April 2009
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IFR Capital PLC
Transaction with Walter Rau Group
IFR Capital Plc ("IFR" or the "Company"), the AIM-listed investment company
focused on consolidation opportunities in the European retail food sector, is
pleased to announce that its subsidiary Homann Feinkost GmbH ("Homann")
has added a food dressings production line previously managed by Walter Rau
Lebensmittelwerke GmbH & Co. KG ("Walter Rau") for a payment of EUR8.3 million to
be satisfied in cash. The food dressings production line has in the books of IFR
a current book value of approximately EUR5.0 million and will, when operating
under a capacity of circa 25 kilo tonnes per annum, generate annual operating
profits for IFR of approximately EUR4.0 million.
The food dressings production line manufactures various mayonnaise and ketchup
products which are currently sold into the German market. The addition of the
food dressings production line to Homann's existing production infrastructure
will consolidate Homann's position in the German food dressings market, with the
objective of improving profitability through improved economies of scale and
adding higher margin products to the Company's product portfolio.
Furthermore, IFR's subsidiaries Heinrich Hamker, Lebensmittelwerke GmbH &
Co. KG and Feinkostwerke Hamker GmbH & Co. KG have sold their margarine
production lines to Walter Rau for a cash consideration of EUR1.0 million.
For further information please contact:
+-----------------------------------------------+----------------------+
| IFR Capital PLC | |
+-----------------------------------------------+----------------------+
| Ulrike Sucker | +49 (0) 211 310 627 |
| | 12 |
+-----------------------------------------------+----------------------+
| | |
+-----------------------------------------------+----------------------+
| Charles Stanley Securities - NOMAD and broker | +44 (0) 20 7149 6000 |
+-----------------------------------------------+----------------------+
| Philip Davies / Ben Johnston | |
+-----------------------------------------------+----------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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