Bell Food Group to become Europe's leading supplier of convenience food
Bell Food Group, one of the leading meat processors and makers of convenience products in Europe, announced that the Stoffel Holding stake in Hügli Holding represents 50.2% and 65.0% of the voting shares.
Meanwhile, Bell Food Group also said that it is making a tender offer for the remaining publicly traded shares of Hügli Holding AG at a price of CHF 915 per share, which, the company said, is relative to the nominal value is the same price as applies to the majority stake bought from Stoffel Holding.
The company also said in a statement that the price corresponds to a takeover premium of 14.4% over the volume-weighted average price for the last 60 trading days prior to the announcement of the tender offer.
This move, according to Bell Food Group, will strengthen its position in the convenience products market, the company already reporting a CHF 3.4 billion ($3.5 billion) revenue per year.
Furthermore, the company expects that around CHF 1 billion in revenues – more than a quarter of Bell Food Group’s consolidated revenues – will in future be generated in the high-growth, high-margin convenience sector.
Photo Source: Bell Food Group Ltd
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