Valora Holding AG

EANS-News: Valora Holding AG
Valora Trade successfully completes acquisition of Norway´s leading cosmetics distributor Engelschiøn Marwell Hauge AS (EMH)

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Company Information

Muttenz (euro adhoc) - Valora Trade successfully completes acquisition of Norway´s leading cosmetics distributor Engelschiøn Marwell Hauge AS (EMH) - Entry into new product category with strong, selective brands - Market position in Norway enhanced

On October 15, 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.

***** EMH Engelschiøn Marwell Hauge Founded in 1927, EMH holds 35% of the Norwegian cosmetics market, making it Norway´s leading distributor and marketer of cosmetic products. The firm´s 2009 sales were somewhat over NOK 400 million (approximately CHF 70 million). EMH´s principal portfolio encompasses more than 50 exclusive brands, such as Calvin Klein, Chanel, Clarins, Dolce & Gabbana, Guerlain, Hugo Boss, IsaDora, La Prairie, Max Factor, Paco Rabanne, Shiseido and Versace. The firm currently employs some 110 staff. *****

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ots Originaltext: Valora Holding AG
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Branche: Retail
ISIN:      CH0002088976
WKN:        208897
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