by Sarah Hills FoodBizDaily.com London
November 05 2009 - Colruyt Group said it has launched a 100% takeover bid for Foodinvest Group to strengthen its market position and to lead to further sustainable growth in professional catering.
The Belgian group, whose businesses include discount supermarket chains, said that Foodinvest, based in Bornem, Antwerp, operates nationwide on the food service market and focuses on catering. It consists of Foodinvest NV, Sejo NV, Walschap NV, Foodlines BVBA and Bodegas BVBA.
Colruyt said in a statement: “The takeover bid fits in Colruyt Group's ambition to obtain a more prominent position on the food service market and to expand the present food service activities, both in Belgium and abroad.
“In Belgium, Colruyt Group already operates in this industry with the commercial entities Collivery and Enco. Also in France, the Colruyt Group acquired several important food service companies during the past few years.
“Colruyt Group appreciates the Foodinvest Group for its nationwide operations, the
attractive and diverse clientele, the strategic location, the strongly motivated staff and the know-how in food service.”
As a result of several acquisitions, Colruyt said that Foodinvest is the third most important player in Belgium, with a turnover of around €45 million.
The takeover bid is subject to competition rules but Colruyt aims to sign the takeover agreement in January 2010.
Last month there were reports that Colruyt was to focus on expansion in France and Belgium.
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Etablissementen Franz Colruyt NV
Address: Klantendienst Edingensesteenweg 196 Halle, 1500 Belgium
Telephone: +32-2-3601040
Fax: +32-2-3600207
About Etablissementen Franz Colruyt NV
Etablissementen Franz Colruyt NV, also known as Colruyt Group, is a Belgian company primarily engaged in the retail and wholesale of food and non-food products. The Company divides its activities into four segments: Retail Trade (76.75%); Wholesale Trade and Food Service (16.75%), Other Activities (6.5%) and Corporate Activities. The Retail Trade division includes such stores as Colruyt, OKay, Bio-Planet, DreamLand and ColliShop, among others. The Wholesale Trade and Food Service division is engaged in the supply of food and non-food products to independent storekeepers in Belgium and France, as well as in food service, export and home delivery. The Other division includes the DATS 24 petrol stations in Belgium and France, Druco, WE-Power, as well as Intrion, which specializes in automation of production processes and logistics. Colruyt Group also has a Corporate Activities Division, which is supporting the three aforementioned operational divisions.