Mergers & Acquisitions & Joint Ventures

Eurofood, Oct 11, 2001

Buyer              Target              Country

McCain Foods USA   Anchor Food         US
                   Products

Heinz              Anchor Food         US
                   Products

National Dairy     Crowley Foods/      US
Holding            Marigold Foods

Sara Lee           Prima               US/Poland

Brake Bros         Scotia Campbell     UK
                   Marine

Sos Cuetara        Koipe               Spain

Carrefour/Metro    Metro/Carrefour     France/Germany

Gilde              Hazlewood           Netherlands
Participaties      Convenience Foods
                   Tilburg

Pieters            Gebroeders Sterk/   Belgium/
                   Diepvres            Netherlands/UK
                   Monnickendam
                   /Sterk UK

Bakkersland        Wafel Janssen       Netherlands

Kerry Group        Golden Vale         Ireland

Smithfield Foods   Stadler's Country   US
                   Hams/RHM Foods

Sardus             Falbygdens Ost      Sweden

Danone             Stonyfield Farm     France/US

Tata Tea           Tetley Group        India/UK

Grampian Foods     Malton Foods        UK

Buyer              Remarks

McCain Foods USA   McCain Foods USA has announced the
                   completion of its acquisition of US
                   firm Anchor Food Products, including
                   its production facilities and
                   foodservice operations. The purchase
                   does not include the branded retail
                   products business, which was acquired
                   by Heinz.

Heinz              As part of the above deal, US food
                   manufacturer has agreed to buy the
                   frozen appetiser business and the
                   licensing rights of Anchor Food Products,
                   for an undisclosed sum. The deal includes
                   the Popper's retail frozen appetiser
                   business as well as the licensing rights
                   to TGI Friday's frozen snacks and
                   appetiser brand. The brands will add a
                   combined US$150m (163m [European Dollar])
                   to Heinz's existing sales.

National Dairy     Dutch food group Koninklijke Wessanen
Holding            announced this week the completion of
                   the sale of its two dairy activities in
                   US to National Dairy Holdings. The selling
                   price of US$400m (436m [European Dollar])
                   will result in a book profit of at least
                   40m [European Dollar], the company
                   reported. The sale involves Crowley Foods
                   in New York and Marigold Foods in
                   Minneapolis.

Sara Lee           US food and consumer goods manufacturer
                   Sara Lee has announced that it plans to
                   buy leading Polish coffee producer Prima,
                   via its Dutch beverage business, from Drie
                   Mollen Holding. Sums involved were not
                   disclosed.

Brake Bros         Catering supplier in France and the UK
                   Brake Bros. has bought Scotia Campbell
                   Marine, a Scottish-based fresh fish and
                   seafood supplier for 4m [pounds sterling]
                   (6.4m [European Dollar]). Catering supplies
                   generated 6.5m [pounds sterling] in the
                   year to 28 February for the Scottish firm.

Sos Cuetara        Spanish food group Sos Cuetara has launched
                   a bid for all the shares in compatriot
                   edible oil producer Koipe, which is currently
                   52% owned by Italian conglomerate Montedison.
                   The offer is equivalent to 27 [European
                   Dollar] a share on the condition that it
                   obtains at least 15% of Koipe and values the
                   company at 350m [European Dollar]. Trading
                   in both finns has been suspended.

Carrefour/Metro    Cutting all links between them, French
                   supermarket group Carrefour has sold its 20%
                   stake in Metro France to German food retailer
                   Metro, while Metro has sold its own 20% stake
                   in Carrefour's Italian operations back to
                   Carrefour. Carrefour has owned its Metro
                   stake since 1974 and Metro its Carrefour
                   stake since 1987.

Gilde              As part of a series of disposals aimed at
Participaties      streamlining its operations after the
                   acquisition of Hazelwood Foods, food
                   manufacturer Greencore has sold its Dutch
                   frozen meat snack business Hazlewood
                   Convenience Foods Tilburg to Dutch venture
                   capitalist Gilde Participiates for Gilde
                   Participates 41m [European Dollar].

Pieters            Greencore has also sold three fish
                   processing units, Gebroeders Sterk and
                   Diepvres Monnickendam, both based in the
                   Netherlands as well as the UK operations
                   of Sterk to Belgian fish group Pieters.

Bakkersland        In its fifth and final disposal, Greencore
                   has sold Dutch waffle producer Wafel
                   Janssen to Dutch baked goods maker
                   Bakkersland.

Kerry Group        Regulatory authorities in the UK and
                   Ireland have approved Irish food
                   manufacturer Kerry Group's 398m [European
                   Dollar] bid for compatriot dairy company
                   Golden Vale.

Smithfield Foods   Leading pork producer in the US Smithfield
                   Foods has announced that it intends to buy
                   country ham producer Stadler's Country Hams
                   and RHM Foods, the producer of Quick-n-Easy
                   meat entree brands. Terms of the deal have
                   not been disclosed.

Sardus             Swedish meat processing group Sardus will
                   broaden up its business operations by
                   venturing into cheese production, with the
                   announcement that it has acquired Swedish
                   cheese maker Falbygdens Ost. The parties
                   did not disclose the price.

Danone             Danone of France has further developed its
                   share of the US yoghurt market by purchasing
                   a 40% stake in Stonyfield Farm, a producer
                   of organic yoghurts. Financial details of
                   the deal were not disclosed. Danone has an
                   option to increase its stake to a majority
                   stake in 2004.

Tata Tea           Tata Tea of India has announced it will
                   integrate its operations with UK firm Tetley
                   Group.

Grampian Foods     Grampian Foods is set to purchase Malton
                   Foods, the struggling pigmeat business from
                   UK firm Uniq. Uniq has been looking to offload
                   Malton for some time following a disappointing
                   period for the unit.