Wessanen said the divestment of ABC is “in line with our strategy to focus on organic food in Europe with the clear vision to make our organic brands most desired in Europe, we previously labeled ABC as non-core.”
Wessanen said the divestment is expected to be completed in the fourth quarter, and ABC will be reported as “discontinued operations” as of the second quarter 2012. Proceeds from the sale are expected to be used to further grow European activities, both autonomously and via add-on acquisitions, while maintaining a conservative capital structure.
