Mergers & acquisitions & joint ventures

Eurofood, May 23, 2002

Mergers & Acquisitions & Joint Ventures

Buyer          Target          Country        Remarks

Danisco        Perlarom        Denmark/       Danish firm Danisco
                               Belgium        has strengthen its
                                              flavourings business
                                              following the
                                              acquisition of
                                              Belgian firm
                                              Perlarom. Danisco
                                              expects to makes
                                              synergies savings
                                              within the next
                                              three years.
                                              Danisco said the
                                              deal, subject to
                                              regulatory approval,
                                              puts it in the
                                              flavourings premier
                                              league in Europe.

Johnson Wax    DiverseyLever   UK/            Consumer goods firm
Professional                   Netherlands    Unilever has
                                              completed the sale
                                              of its industrial
                                              cleaning business
                                              DiverseyLever to US
                                              Johnson Wax Profes-
                                              sional.

Daminco/       Schouten USA/   Netherlands/   Dutch group Royal
Orffa          SoyLife         US             Schouten has
               Nederland                      announced a merger
                                              of four of its food
                                              and ingredients com-
                                              panies to operate
                                              under a single name
                                              of Acatris.

Nestle         Senomyx         Switzerland/   Food giant Nestle
                               US             has hooked up with
                                              US firm Senomyx for
                                              collaborative
                                              research and licens-
                                              ing into the
                                              discovery of new
                                              ingredients to en-
                                              hance consumer food
                                              products. Although
                                              no financial data
                                              was provided,
                                              Nestle will provide
                                              funding over a
                                              three-year period,
                                              and upon any
                                              successful outcome
                                              of the research,
                                              will pay royalties
                                              based on sales of
                                              products using the
                                              new ingredients.

Dean Foods     White Wave      US             Dairy firm Dean
                                              Foods is buying up
                                              the remaining 64%
                                              stake in White Wave,
                                              a producer of soy
                                              milk products. Dean
                                              Foods is paying
                                              around US$189m
                                              (208.7m [euro]) for
                                              the outstanding
                                              stake.

Planet         Darya           Russia         Darya, one of
Management                                    Russia's leading
Service                                       food producers is
                                              being acquired by
                                              Planet Management
                                              Service, which is
                                              putting together a
                                              retail chain
                                              Gastronom-Ekonom.
                                              Representatives of
                                              Planet Management
                                              Service would not
                                              specify the size
                                              of the deal, but
                                              said it will be
                                              announced soon.

Musgrave       Budgens         Ireland/UK     Irish food company
                                              Musgrave has made a
                                              bid for the
                                              remaining shares in
                                              UK food retailer
                                              Budgens, that it
                                              does not already
                                              own. Musgrave, which
                                              operates many
                                              supermarkets in
                                              Ireland, already
                                              owns the majority
                                              stake in Budgens.

Brandons       Moorland        UK             Turkey producer
               Poultry                        Brandons has
                                              acquired compatriot
                                              poultry firm
                                              Moorland Poultry,
                                              significantly
                                              boosting its UK
                                              business. No
                                              financial details
                                              were disclosed.

Unilever       Kruszwica       UK/            Leading Polish
Polska                         Netherlands    vegetable fats
                                              producer Kruszwica,
                                              Poland is focusing
                                              purely on consumer
                                              margarine products
                                              from now, as its
                                              other operations
                                              were transferred to
                                              Unilever Polska,
                                              the Polish
                                              subsidiary of Anglo-
                                              Dutch consumer goods
                                              giant Unilever. The
                                              Cereol-owned
                                              Kruszwica sold its
                                              saw its sales
                                              operations
                                              transferred to
                                              Unilever Polska in
                                              line with a deal
                                              worth PlZ90m
                                              (24.3m [euro]) a
                                              year.

Iansa          Heinz           Chile/US       Iansa of Chile and
                                              US food giant Heinz
                                              have created a joint
                                              venture for Brazil,
                                              which will produce
                                              tomato products.
                                              Heinz will own 70%
                                              of the new firm,
                                              with the Chilean
                                              firm holding the
                                              remaining 30%.

Tricon         Long John       US             Restaurant operator
Global         Silver's/A&W                   Tricon Global
Restaurants    All-American                   Restaurants has
                                              completed the
                                              acquisition of the
                                              Long John Silver's
                                              and A&W All-American
                                              fastfood brands. The
                                              deal adds more than
                                              2 000 restaurants to
                                              Tricon's portfolio,
                                              and increases its
                                              worldwide total to
                                              some 32 500.

Kroger         Albertson's     US             Supermarket operator
                                              Kroger has completed
                                              the purchase of 17
                                              stores from rival
                                              food retailer
                                              Albertson's.

N/A            Daiei           Japan          Troubled Japanese
                                              supermarket operator
                                              Daiei is planning to
                                              sell its 17.2% stake
                                              in SUN-TV, a
                                              regional based
                                              television
                                              broadcasting
                                              business. No
                                              financial details
                                              have been disclosed,
                                              but the immanent
                                              sale is part of
                                              Daiei's focus on
                                              core food retailing
                                              activities.

CSM            Promalte/       Netherlands/   Dutch confectionery
               Panduave        Portugal       and ingredients firm
                                              CSM is expanding its
                                              business in
                                              Portugal. CSM has
                                              agreed a deal with
                                              Jeronimo Martins and
                                              Unilever to purchase
                                              bakery businesses
                                              Promalte and
                                              Panduave. The
                                              estimated value of
                                              the acquisition is
                                              30m [euro].

Mono           Doughnut        US             Bakery equipment
Equipment      equipment                      maker Mono Equipment
                                              has acquired the
                                              doughnut equipment
                                              facilities from
                                              compatriot firm
                                              Enodis in a deal
                                              worth US$24.2m
                                              (26.5m [euro]).

Ameropa/       Piesteritz      Switzerland/   A joint venture
Agrofert                       Czech          between Swiss
                               Republic/      fertiliser firm and
                                              Czech agrochemical
                                              conglomerate
                                              Agrofert has bought
                                              ammonia and
                                              fertiliser maker
                                              Piesteritz from
                                              German chemicals
                                              group Degussa.