Ebro Puleva: has reached an agreement to buy Birkel

Madrid / ES. (ep) Ebro Puleva has reached an agreement to buy the German company Birkel Teigwaren GmbH, leader of the pasta sector in the country. The transaction is subject to approval by the German antitrust authorities.

Birkel is the leading pasta producer in Germany, with a market share of 18 percent (more than 40 percent in high value added product ranges). It is also present in the sauces sector and is one of the five best-known food brands among German consumers. In the last financial year (ended September 2006) it posted an annual turnover of more than 90 million euro and an EBITDA of 4,3 million Euro. The transaction is valued at 30 million euro, including all financial and pension fund debt.

The acquisition of Birkel, the third international transaction made within the Group´s Strategic Plan 2007 to 2009, is a major breakthrough in the Group´s geographical expansion and in the capturing of new markets. The German company also holds significant positions in the Baltic Region and Russia, giving Ebro Puleva a foothold on high-growth international markets, which offer a superb growth opportunity for the Group.

The incorporation of Birkel considerably strengthens Ebro Puleva´s position on the German food market, in which the company already present through their rice subsidiary Euryza. The sum of both businesses will contribute a turnover of approximately 160 million Euro to the Group´s consolidated earnings.
Read more: https://www.ebropuleva.es/ep/en/oficina_prensa/new.jsp?orig=home&id=321&type=nopdf

Addition: «VK Mühlen AG terminates its Birkel commitment», a statement informed the press in Germany. VK Muehlen AG sells its participation at a value of 19,9 percent as well as the remaining partners to Ebro Puleva. VK Muehlen with head office in Hamburg (DE) – 1.000 employees, 258 million Euro conversion in the first half-year 2006/2007 – belongs to more than 50 percent to the Austrian Leipnik Lundenburger Invest (LLI).