Euro Cater A/S is the owner of Dansk Cater A/S and is owned 50% by Dansk Cater management and 50% by Altor Fund II. As part of the transaction management of Svensk Snabbmat is also selling their stake in Svensk Snabbmat to Euro Cater and at the same time becoming owners of Euro Cater. A local wholesale company which provides services for the HoReCa market, Svensk Snabbmat för Storkök AB has a network of 18 outlets covering the whole of Sweden. Atria has been the majority owner of Svensk Snabbmat with its 57.2 per cent share holding. The remaining shares are held by the company's executive management. The company's turnover amounted to EUR 147,1 million in 2006 and EUR 47,4 million in the first quarter of 2007. Svensk Snabbmat became part of the Atria Group in 1997 in connection with Atria's acquisition of Lithells AB. Svensk Snabbmat has been a highly successful member of Atria Group and has grown strongly and improved its profitability over eight consecutive years. As a member of Atria Group the company has also successfully consolidated its position in the restaurant wholesaling sector by contributing actively to the consolidation of the industry. In 2006, Svensk Snabbmat acquired the business operations of the Matgruppen för Storkök i Norr group, thus expanding its business to cover the whole of Sweden. The restaurant wholesaling business is undergoing major restructuring in Sweden and in the other Nordic Countries, with small companies being merged into larger units through acquisitions. In order to remain players in the field, companies must take an active part in this development. However, the business operations of Svensk Snabbmat are not part of Atria's core business. Atria has previously expressed its willingness to sell its stake in Svensk Snabbmat, provided it can acquire other comparable core business in Sweden. During this spring Atria has acquired AB Sardus, a Swedish company operating in the food products market, and consequently decided to sell its stake in Svensk Snabbmat. Simultaneously, Atria Group will capitalise on the increase in value which is due to the above-mentioned favourable development of Svensk Snabbmat as an Atria Group company. Atria will book a sales gain of EUR 34 million on the divestment. The agreement between Atria and Euro Cater is a part of the above-mentioned restructuring development, with Euro Cater aiming to become a major player in the restaurant wholesaling market in Sweden and the entire Nordic region. Euro Cater already owns Dansk Cater, The Danish market leader within Food Service. Euro Cater was created in 2006, and is owned by Dansk Cater management 50% and Altor Fund II 50%. The management of Svensk Snabbmat will as a part of the transaction become owners of Euro Cater. The agreement is subject to approval by the Swedish Competition Authority, which Euro Cater expects to be granted by 31 May 2007. Svensk Snabbmat remains included in Atria Group's consolidated reporting until the agreement has been finalised. HSH Gudme Corporate Finance acted as Atria's financial advisor and Roschier as Atria`s legal advisor in matters concerning the transaction. For additional information, please contact Mr Matti Tikkakoski, President and CEO, Atria Group Plc, tel. +358 (0)50 2582. Atria Group Plc Matti Tikkakoski President and CEO DISTRIBUTION Helsinki Stock Exchange Principal media www.atria.fi Appendix: The balance sheet of Svensk Snabbmat on 31 March 2007 was as follows: Assets Property, plant and equipment 1,8 Goodwill 13,2 Inventories 11,0 Trade and other receivables 21,4 Cash in hand and at bank 1,6 Total assets 49,0 Equity and liabilities Equity 9,6 Long-term liabilities 15,6 Short-term liabilities 23,8 Total equity and liabilities 49,0
Stock exchange releases | 27.4.2007