Associated British Foods : ABF announces sale of ACH’s herbs and spices business
September 21, 2016 at 10:08 am EDT
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21 September 2016
Associated British Foods plc (ABF) today announces that it has reached an agreement to sell the North American herbs and spices business of ACH Food Companies (ACH) to B&G Foods. The assets to be sold include the Tone's, Spice Islands and Durkee brands, the license for Weber sauces and seasonings and a manufacturing facility in Ankeny, Iowa. Completion of the transaction, which is subject to anti-trust approval, is expected to occur in October 2016. Following completion of the transaction, ACH will continue to sell vegetable oils, bakery ingredients and specialty ethnic products in the US, Canada and Mexico.
For further enquiries please contact:
Associated British Foods
John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7399 6500
Citigate Dewe Rogerson
Chris Barrie, Eleni Menikou
Tel: 020 7638 9571
Associated British Foods plc published this content on 21 September 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 September 2016 14:08:03 UTC.
Original documenthttp://www.abf.co.uk/media/news/2016/abf_announces_sale_of_achs_herbs_and_spices_business
Public permalinkhttp://www.publicnow.com/view/C5BE3D373CE7B3E0334DB51DD117C6139B80C614
Associated British Foods plc is one of the largest European food processing groups. Net sales break down by family of products as follows:
- grocery and bakery products (21.3%): tea (Twinings brand), oils (Mazola and Capullo), spices (Spice Islands and Durkee), jam, bread, biscuits, sauces, etc.;
- sugar (12.9%): Silver Spoon, Billington's brands, etc.;
- ingredients (10.9%): yeasts, flavorings, emulsifiers, sterols, esters, etc.;
- processed food products (10.1%): mainly cereal and animal feed.
The remaining sales (45.6%) are from clothing distribution (408 outlets located mainly in the United Kingdom, Ireland, Spain, Germany, the Netherlands, and Portugal under the Primark and Penneys names).
Net sales are distributed geographically as follows: the United Kingdom (36.8%), Europe and Africa (38.2%), Asia/Pacific (12.7%) and Americas (12.3%).