Valora completes the acquisition of Back-Factory, thereby strengthening its market position in Germany
EQS Group-Ad-hoc: Valora Holding AG / Key word(s): Miscellaneous
Valora has successfully completed the announced acquisition of German-based snack specialist Back-Factory. This strengthens its position as one of the largest catering companies in Germany. The purchase will be followed by the takeover of Back-Factory's former headquarters and its organisational integration into Valora. Over time, the Back-Factory brand will be integrated into the BackWerk format. This will allow Valora's German food service platform to benefit from synergies and economies of scale. Since 1 November 2021, Valora has been among the top five German catering businesses and systems measured by pre-crisis levels (previously among the top ten according to foodservice magazine 4/2020). The Bundeskartellamt has approved the purchase of snack food provider Back-Factory without conditions. Valora is acquiring Back-Factory and its more than 80 sales outlets from founder Harry-Brot, the most important producer of baked goods in Germany. Integration of Back-Factory into BackWerk food service bakery format over time Valora already owns more than 340 BackWerk stores in Germany, the Netherlands, Austria and Switzerland. Thanks to the complementary Back-Factory locations, its food service offering will now make further inroads into German city centres. In addition, Back-Factory already has a highly innovative solution for digital self-checkout. Valora intends to install this technology in its BackWerk stores too. Previous managing director of Back-Factory becomes a franchise partner 'Peter Gabler's commitment is a huge vote of confidence,' says Karl Brauckmann, Managing Director of the Valora Food Service Germany business unit. 'Demand from the existing Back-Factory and BackWerk franchisees and people looking to start a business is already good in other respects. Thanks to Back-Factory's attractive portfolio of locations, we're convinced that this will ensure continuity in store operations.' Jobs created in Essen and synergies of around CHF 3 million per year in the medium term Overall, Valora anticipates total synergies of around CHF 3 million per year in the medium term. Despite one-off integration costs, the Back-Factory acquisition is expected to make a positive contribution to EBIT in 2022. 'Our market knowledge, our franchising expertise and our presence in Essen as a platform organisation make us the ideal buyer - always ready and willing to integrate further food brands. We're very much looking forward to continuing to develop the Back-Factory business together with the employees in the network,' says Thomas Eisele, CEO of Valora Food Service. This ad hoc announcement is available online at www.valora.com/newsroom. About Valora More information is available at www.valora.com. If you have any questions, please do not hesitate to contact:
Disclaimer End of ad hoc announcement |
1245206 01-Nov-2021 CET/CEST