Brief: Orior Is Acquiring A 35 Pct Interest In Casualfood

Orior AG

04/09/2018 05:17

Sept 4 (Reuters) - Orior AG  ORON.S :
    * ORIOR IS ACQUIRING A 35% INTEREST IN CASUALFOOD
    * CASUALFOOD GENERATES ANNUAL REVENUES OF ABOUT EUR 52
MILLION,
PRIMARILY IN ITS DOMESTIC GERMAN MARKET
    * ORIOR'S INTEREST IN CASUALFOOD WILL BE INCREASED IN
SEVERAL
STAGES TO 100% OVER NEXT FEW YEARS
    * ORIOR GROUP WILL HOLD A MAJORITY INTEREST IN CASUALFOOD
AND
FULLY CONSOLIDATE ITS PARTICIPATION FROM AUTUMN 2019 ONWARDS
    * ACQUISITION WILL BE FINANCED WITH FREELY AVAILABLE CASH
AND
EXISTING LINES OF CREDIT
    * CASUALFOOD WILL OPERATE AS AN INDEPENDENT CENTRE OF
COMPETENCE
WITHIN ORIOR INTERNATIONAL SEGMENT
    * CASUALFOOD'S TWO FOUNDERS STEFAN WEBER AND MICHAEL WEIGEL
WILL
STAY ON WITH COMPANY AS SHAREHOLDERS AND MANAGING DIRECTORS

Source text for Eikon:  urn:newsml:reuters.com:*:nTEN0lmwca
Further company coverage:  ORON.S 

 ((Reuters.Briefs@thomsonreuters.com;))