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Dutch Acomo closes acquisition of Deli´s tea, seeds businesses
Thursday 24 June 2010

Dutch agricultural products trader Amsterdam Commodities (AMS:ACOMO) said yesterday it has completed the acquisition of the tea and seeds activities of Amsterdam-based trading and distribution company NV Deli Maatschappij.
Acomo bought the businesses for some EUR100m (USD123.6m), including about EUR20m in debt.

The takeover price consists of EUR67.5m in cash, EUR8m in shares and EUR5m in the form of a convertible loan.

Thanks to the acquisition of Rotterdam-based Van Rees Group and US Red River Group, Acomo will be able to double in size and gain a leading market position in tea and seeds trading, the buyer said.

The two companies employ about 450 in total and have a combined net profit of EUR13.5m. Acomo posted last year a profit of EUR10.5m.

Van Rees Group is the world´s biggest independent tea trader with facilities in ten countries across Europe, Africa, Asia and North America. The company generated last year revenue of USD182m.

Red River Group is a major player in the global trade, cleaning, processing and distribution of confectionery sunflower, caraway and poppy seeds. The company´s revenue amounted to USD145m in 2009. Red River operates production sites in North Dakota, Kansas and Texas.
Details
Date Published: 24/06/2010
Target: Van Rees Group, Red River Group
Country: USA, Netherlands
Deal Size: 123.6m (USD)
Sector: Agriculture/Forestry, Food/Beverages/Tobacco
Type: Corporate acquisition
Financing: Debt, Cash & Stock
Status: Closed
Vendor: NV Deli Maatschappij
Buyer: Amsterdam Commodities NV

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