R&R ICE CREAM TO ACQUIRE DURIGON GELATO GmbH

R&R ICE CREAM TO ACQUIRE DURIGON GELATO GmbH

2 December 2011

R&R ICE CREAM TO ACQUIRE DURIGON GELATO GmbH

R&R Ice Cream ("R&R" ) has agreed to acquire, for an undisclosed sum, the issued share capital of Durigon Gelato GmbH ( "Durigon" ).  This is conditional only on clearance from the German Federal Cartel Office which has been notified of the acquisition.

Based at Schwanewede-Brundorf near Bremen with 70 employees, Durigon - whose sales in 2010 were €20m - manufactures tubs in different sizes from 200ml to 5000ml, sandwiches and other ice cream products for the private label market and also under the Durigon brand. The Italian ice cream specialities sell throughout Germany as well as other EU countries.

R&R plans to invest in the Durigon factory and grow sales as an integral part of its strategy to develop its private label business in Germany.  The Durigon brand will be retained and complements the existing portfolio of R&R brands.

Werner Durigon, who will continue as managing director of Durigon, commented,  "I am pleased that our family's and employees´ long association with Durigon will continue within the R&R group and look forward to strong future growth in our factory at Schwanewede"

Dr Ibrahim Najafi, CEO of R&R Europe, said: "I am delighted that Werner and Daniel Durigon will stay with the business and join the R&R team. We are excited about the potential for Durigon through using the resource and experience of R&R to further develop a respected and long-standing family business."