AGRANA already to take over 100% of Atys by Year-End 2005Date: 27.07.2005
AGRANA and Butler Capital Partners (the former majority shareholder of the Atys Group) have agreed to bring forward the outstanding stages in AGRANA’s 100 per cent takeover of Financière Atys S.A., France.
The original agreement was for a four-step takeover to be completed by the end of 2006. Under the new agreement, the 100 per cent takeover will be completed by the end of 2005, allowing Atys’ complete absorption by the AGRANA Group one year earlier.
Revenues generated by AGRANA’s rapidly growing fruit operations are ex-pected to increase to about 40 per cent of total group turnover by the 2005/06 financial year and they should also make a key contribution to group profits.
AGRANA has had a 56 per cent stake in Atys since March 2005. This globally active enter-prise will become a consolidated member of the AGRANA Group as of the second quarter of the 2005/06 financial year.
Including the Dirafrost Group – which it took over in November 2004 – Atys has annual revenues of roughly € 450 million. The Atys Group is the world’s leader in fruit preparations for the dairy industry, making 300,000 tonnes a year. It has 24 production facilities world-wide.