Home

News 193 views last update:6 Aug 2012

Significant sales increase for Provimi

The Provimi Group showed consolidated results in 2006. Sales increased by 15% to €1.823,2 million. Progress in volume and sales was broadly based, with a strong increase in North America, European pet food and the emerging markets.

Profit from operations before other income and expenses improved by 17.3% to €112.4 million (2005: €95.8 million). Strong growth in higher margin products such as Premix, Specialties and Pet food, contributed to this result. Provimi further expanded its Premix, Specialties and Pet food activities with the acquisitions of Vita (Canada), Virtus Nutrition and Nutrius (California, USA) and private label Pet food assets (France).

Provimi's CEO Wim Troost commented: "We are extremely pleased to see that our strategy again proved to be effective. Despite difficult market circumstances in certain countries, including Poland, the Group achieved a significant increase in profit from operations before other income and expenses and in net profit. Many of our businesses contributed to this growth, with a particularly strong performance in North America and the emerging markets. Provimi will continue to pursue its successful strategy of investing in internal and external growth opportunities, going forward."

About Provimi
Provimi has over 100 plants in 30 countries and employees almost 9,000 people. As from today, Provimi is bought by Nutrilux, which is backed by Permira Advisers LLP. It is seeking 74.05% of the share capital of Provimi at a price of €30 per share. The deal was examined under the EU''s "simplified" merger review procedure for cases which the commission believes do not pose competition concerns.

Related link:
Provimi

To receive the AllAboutFeed newsletter click here.  

Editor AllAboutFeed

Or register to be able to comment.