| | KOMISJA NADZORU FINANSOWEGO | |
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| | Raport bieżący nr | 7 | / | 2012 | |
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| | Data sporządzenia: | 2012-08-01 | | | | | | | | | |
| | Skrócona nazwa emitenta | | | | | | | | | |
| | MILKILAND N.V. | |
| | Temat | | | | | | | | | | |
| | Acquisition of Mazowiecka Spółdzielnia Mleczarska “Ostrowia" | |
| | Podstawa prawna | | | | | | | | |
| | Inne uregulowania
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| | Treść raportu: | | | | | | | | | |
| | The Board of Directors of Milkiland N.V. (the "Company") hereby informs that on July 31, 2012, Milkiland EU sp. z o. o. (“Milkiland EU"), a newly established Polish subsidiary of Milkiland N.V., has acquired 100% shares in Polish-based Emir 10 sp. z o. o., a company that owns the business of former Mazowiecka Spółdzielnia Mleczarska “Ostrowia" (Ostrowia), which is currently in bankruptcy liquidation. The acquisition price comprised PLN 49.3 million (EUR 12 million).
Ostrowia is a modern cheese plant capable to produce a wide range of dairy products essential for Milkiland: hard cheese (up to 15 kt/ year), curd cheese and yoghurts (up to 11 kt/ year), processed cheese (up to 7 kt/ year). In 2003-07 Ostrowia undergone a major modernization and currently represents a state-of-the-art cheese making facility. Ostrowia brand is well known in Poland.
Milkiland acquired Ostrowia cheese making facility mainly for the purpose of addressing its natural CIS markets from Poland, thus decreasing the risks of Russian imports bans. Also, this acquisition will allow Milkiland to establish its footprint in EU, the largest dairy market globally.
According to business plan, by the end of 2012 Milkiland will have to invest EUR 3.5 mln in order to launch the Ostrowia facility and adjust it to requirements of CIS markets; another EUR 4.5 mln will be spent to finance working capital.
After reaching its target volume output in 2013-14, Ostrowia will contribute around 15% to Milkiland’s consolidated revenue and EBITDA.
The acquisition was financed from cash generated by operating activities of the Milkiland Group.
The legal basis: par. 5 section 1 point 1 of the Decree of the Minister of Finance dated 19 October 2005 regarding current and periodic information published by issuers of securities.
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+0,17% +0,74gr
-0,30% -1,19gr
