October 18, 2010 | by Valora AG
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October 18, 2010, Valora successfully completed the acquisition of an 80% majority stake in the Norwegian firm EMH. The transaction provides Valora with control of Norway’s leading cosmetics distributor, thus enabling the Group to invest in a new and growing product segment. Extending its existing portfolio in this way is not only commensurate with Valora Trade’s chosen strategic direction, but also strengthens the company’s position in Norway, one of its most promising markets for future development.
Valora Trade is already one of Europe’s largest distributors of branded goods to the organised retail sector. By adding EMH’s current staff of some 110 employees headed by managing director Peder Madsen and, noted for their high standards of professionalism, to its ranks, Valora will also further enhance its distribution skills.
This acquisition has been fully financed from current cash flow. Both parties have agreed not to disclose the purchase price or other details of the agreement. Ellinor Sæther, the previous owner, will maintain a minority stake of 20%. She will also take a seat on the new board of directors, providing valuable know-how and expertise.
Contact
Valora AG Investor Relations T.: +41 58 789 12 20 E.: mladen.tomic@valora.com
Media Relations T.: +41 58 789 12 01 E.: stefania.misteli@valora.com
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Conclusion of this article: « Valora Trade successfully completes acquisition of Norway’s leading cosmetics distributor »
Source: Valora AG, Press release