2 Sisters Commits to Acquisition of Storteboom Group
LONDON, April 23, 2010 /PRNewswire/ -- 2 Sisters, a subsidiary of Boparan Holdings Ltd, today announced its intention to purchase the Dutch-based Storteboom Group. This acquisition further increases 2 Sisters presence as one of the leading organisations within the UK and European food industry. The acquisition will be completed as soon as possible following appropriate merger clearance and approvals. The central works council of Storteboom Group has been asked to render its advice and this process is ongoing.
2 Sisters was established in 1993 by CEO Ranjit Singh and still remains a privately owned company, supplying retail, food service and manufacturing companies worldwide, from sites in the UK, Holland and the USA. The company has evolved from a small cutting operation to a world class food manufacturer, employing over 5,500 dedicated staff and annualised sales exceeding GBP750 million.
Storteboom Group is a Dutch-based poultry processing business that is well established within the European poultry market for fresh and frozen products. The Storteboom Group employs over 1,200 staff in Holland and Poland.
2 Sisters CEO, Ranjit Singh, said:
"This intended acquisition is a strategic next step within our long-term business plan which is focused on growth through long term partnerships. The Storteboom Group and 2 Sisters' existing Dutch business are complimentary, providing an established platform to support expansion in Central Europe."
This acquisition brings opportunity to leverage the best of Storteboom and 2 Sisters. During this transition, both companies will continue to focus on their customers and as such it's business as usual.
The aspiration of the new integrated structure is to increase market share and become the "best in class" business within the European poultry industry.
For further information please contact: UK: Nicola Chambers, +44(0)7921-350168, firstname.lastname@example.org UK: Peter King, +44(0)7812-661083, email@example.com NL: Ruud Oost, +31(0)485-318800, firstname.lastname@example.org
SOURCE 2 Sisters Food Ltd