PinguinLutosa announces new management structure as Scana Noliko and CECAB acquisitions move forward

Scana Noliko

PinguinLutosa is proud to announce that the acquisition of the Scana Noliko group was successfully closed today.

The figures of Scana Noliko will be included in the consolidation scope of PinguinLutosa as of 1 July 2011.

Supported by the banking syndicate, the reference shareholders of PinguinLutosa and the previous shareholders of Scana Noliko, PinguinLutosa has also managed to replace and extend the existing financing of PinguinLutosa as well as that of Scana Noliko.

The acquisition of Scana Noliko has further strengthened the profitability of PinguinLutosa, and consequently laid a strong base for the future.

CECAB

PinguinLutosa has obtained the approval from the French Competition authorities for the acquisition of the deep-frozen activities of the French CECAB. Now that this last obstacle has been overcome, nothing stands in the way for integration into PinguinLutosa.

It was decided to coincide this step with the start of the new sales season on 1st September. This means that from that date onwards, the operational and commercial activities will be fully in the hands of PinguinLutosa.

New management structure

In order to better anticipate the new opportunities of the group, it was decided to adapt the structure and organogram of PinguinLutosa.

The management will be strengthened and a three division structure will be used, namely the deep frozen vegetable division, the potato division and the canned division.

From now on, each division will be managed by a managing director. For the potato division this is the current general manager of Lutosa, Mr. Erwin Wuyts, and for the canned division this is the current general manager of Scana Noliko, Mr. Dominiek Stinckens.

Awaiting the recruitment of a managing director for the deep-frozen vegetable division, Mr. Herwig Dejonghe will hold this position in the interim.

Going forward Mr. Herwig Dejonghe, in his new capacity as COO of the PinguinLutosa Group, will be responsible for the ‘business’ and strategic projects of all three divisions. Mr. Hein Deprez will take on the role of CEO of PinguinLutosa, while the financial management remains in the hands of group CFO, Mr. Steven D’haene.

Mr. Hans Luts will focus on the several aspects of the integration of recent acquisitions and the optimisation of the present synergies.