Norseland Inc's Parent Company TINE BA Purchases Ilchester British Cheese Company

Business Wire, Nov 5, 2008

STAMFORD, Conn. -- Norseland, Inc. of Stamford, Connecticut announced that its parent company, The Norwegian Dairy Cooperative, TINE BA, has bought Ilchester Cheese Company for an undisclosed sum.

Majority shareholder, Inflexion Private Equity Partners LLP, and the company's Management endorsed the deal which was signed on 3rd of November 2008.

TINE is through Norseland Ltd. represented in the UK market, selling the following products: Jarlsberg, Snofrisk and SkiQueen.

Ilchester Cheese Company Ltd. is the leading producer of blended cheese in the UK market.

The company has a broad range of added value cheeses in a variety of formats, and is well established in the UK retail market, as well as internationally, selling its cheeses into over 20 countries around the world.

Ilchester Cheese Company Ltd. has enjoyed impressive turnover growth in recent years and is set to top 30m in the coming year.

This acquisition forms part of TINE's strategy to develop in selected international markets selling high quality specialty cheeses.

"TINE BA's acquisition of Ilchester Cheese Company Ltd. highlights our commitment to the international strategy we envision: to be the preeminent specialty cheese brand leader in selected international markets," said John Sullivan, President and CEO of Norseland, Inc., and member of Norseland Ltd. UK Board of Directors. "Ilchester's unique, first quality cheese blends, its prestigious name and well-established reputation for superior innovation is a perfect fit for our current portfolio. We are excited to have Ilchester join the Norseland family of Brands alongside America's #1 specialty cheese brand: Jarlsberg[R]."