Brief: Ebro Foods Sells Dry Pasta Business in Canada To Barilla Group

Ebro Foods SA

28/10/2020 13:45

Oct 28 (Reuters) - Ebro Foods SA  EBRO.MC :
    * SAYS THROUGH ITS CANADIAN SUBSIDIARY CATELLI FOODS
CORPORATION
AND US SUBSIDIARY RIVIANA, HAS RESOLVED TO SELL ITS “CATELLI”
DRY PASTA BUSINESS IN CANADA TO THE BARILLA GROUP
    * BUSINESS SOLD COMPRISES THE BRANDS CATELLI, LANCIA AND
SPLENDOR
AND THE PLANT IN MONTREAL (QUEBEC)
    * BUSINESS HAS BEEN VALUED AT CAD 165 MILLION (VALUE OF 100%
OF
BUSINESS, I.E. BEFORE ANY ADJUSTMENT FOR DEBT AND WORKING
CAPITAL)
    * DIVESTMENT IS NOT EXPECTED TO GENERATE ANY CAPITAL GAIN
FOR EBRO
GROUP
    * WILL MAINTAIN ITS PRESENCE ON THE CANADIAN MARKET THROUGH
ITS
BRANDS GAROFALO (DRY PASTA), OLIVIERI (FRESH PASTA AND SAUCES)
AND RICE (MINUTE RICE AND TILDA)

Source text for Eikon:  ID:nCNMbrYPQD 
Further company coverage:  EBRO.MC 

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