Aviko acquires Eurofreez and Seru & Annoot

January 14, 2008

Aviko has reached agreement on the acquisition of the potato processing company Eurofreez and the potato trader Seru &Annoot. The transaction represents a significant increase in Aviko's sale of potato specialities and is a perfect match for the company's strategy. In the years ahead Aviko will seek to considerably strengthen its position in the growing market for potato specialities with high added value.

Eurofreez produces a range of high quality potato specialities at its site in Proven (West Flanders, Belgium), including a wide assortment of frozen mashed potatoes and portioned gratins that it exports to 65 countries. Eurofreez considerably increased its production capacity in 2007.

Seru &Annoot is a long-standing potato trader that buys potatoes, many of which are processed by Eurofreez, from more than 300 farmers in West Flanders and northern France.

This acquisition in Belgium will further improve the spread of Aviko's potato sourcing operations and its European production network. Aviko currently has 12 potato processing facilities in Europe and is constructing a new factory in China. The Aviko group processes 1.7 million tonnes of potatoes into a varied range of products each year.

Eurofreez and Seru &Annoot have a turnover of approx. EUR 65 million and a joint workforce of 170. The acquisition as such will have no adverse consequences for employment. Dirk de Pandelaere will remain in his position as managing director of Eurofreez in the coming years.