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PRESS RELEASE
Ter Beke
creates legal divisions
Waarschoot, 29 December 2006 - The extraordinary general
meeting of Ter Beke NV on 29 December 2006 has agreed the formal divisioning of
the group's core activities, with its processed meats business being placed with
TerBeke-Pluma NV and its activities relating to fresh ready meals with
FreshMeals NV. Both companies are 100% owned by Ter Beke NV.
Ter Beke has two core activities: processed meats and fresh ready meals, and a
growth strategy has been developed for both. This has already resulted in, among
other things, the acquisition of Di Pasto (pasta dishes) in France and
Langeveld-Sleegers (pre-packed processed meats) in the Netherlands. The recent
merger of the processed meats division with Pluma from Wommelgem was a very
important strategic step for the Process Meats division. A subsequent step will
be the further expansion of the Ready Meals division.
Both core activities each have their own specific characteristics and dynamic in
the areas of marketing, brands, product development, production, sales and
organisation. In view of this, Ter Beke has been working for several years on
making both divisions operationally independent. It was within this framework
that, on 11 May 2006, the Board of Directors appointed Ter Beke directors, Marc
Hofman and Dirk Van de Walle, as CEO of the Process Meats division and the Ready
Meals division respectively.
A further step in this process was establishing the formal independence of the
two divisions, with all the commercial and operational activities concerning the
Processed Meats division previously carried out by Ter Beke NV now being brought
under TerBeke-Pluma NV, and activities relating to the Ready Meals
division being brought under FreshMeals NV. Both companies are 100%
subsidiaries of Ter Beke NV. Following this step, all the commercial activities
of Pluma NV and Ter Beke NV in respect of processed meats are to be combined
within TerBeke-Pluma NV.
Ter Beke opted for this determined form of divisioning because it wished to
create the best and most flexible starting point for realising their respective
growth strategies, in light of the strongly differing market environments.
Following approval by the extraordinary general meeting of Ter Beke of 29
December 2006 and the subsequent contribution of the activities into
TerBeke-Pluma NV and FreshMeals NV, the formal divisioning is now established.
This operation will not affect the consolidation circle of the group.
For further information, please contact:
| Media Luc De Bruyckere Executive Chairman Telephone: +32 (0)9 370 13 17 E-mail: luc.debruyckere@terbeke.be |
Investor Relations Dirk De Backer Company Secretary Telephone: +32 (0)9 370 12 21 E-mail: dirk.debacker@terbeke.be |
TER BEKE IN BRIEF
Ter Beke (Euronext Brussels: TERB) is an innovativng Belgian fresh foods group,
selling its range of products in 10 European countries. The group has 2 core
activities: processed meats and fresh ready meals; it has 9 industrial
plants in Belgium, the Netherlands and France and employs circa 1,600
people.
Processed Meats Division: TerBeke - Pluma NV
- Manufacturer of fine processed meats for the Benelux and paté for Germany and the United Kingdom
- 5 production plants in Belgium (Wommelgem, Waarschoot, Marche-en-Famenne, Herstal and Ruiselede) and 3 centres for the slicing and packaging of processed meats, 2 of which are in Belgium (Wommelgem and Veurne) and 1 in the Netherlands (Milsbeek)
- Innovating in the segment of pre-packed processed meats
- Distribution brands and own brand names L´Ardennaise, Daniël Coopman and Pluma
- Circa 900 employees
Ready Meals Division: FreshMeals NV
- Manufacturer of fresh ready meals for the European market
- Market leader in fresh lasagne in Europe
- 3 manufacturing plants, 2 of which are in Belgium (Wanze and Marche-en-Famenne) and 1 in France (Alby-sur-Chéran)
- Brand names Come a Casa, Pronto and Vamos, besides distribution brands
- Circa 650 employees