Amira Nature Foods Ltd Announces Strategic Acquisition in Germany
09 March 2017 - 12:30AM
Business Wire
Amira Acquires a Portfolio of Packaged
Specialty Rice Brands Bolstering its Growing Presence in the
Important Ethnic and Retail Channels
Amira Nature Foods Ltd (the “Company,” “Amira”) (NYSE:
ANFI), a leading global provider of branded, packaged specialty
rice, today announced that it has acquired a portfolio of packaged
specialty rice brands which include Al Amir, Al Hakim, Bano, Dalia,
Hanna and Shah Pari brands from Euro Basmati GmbH in Germany. These
brands are well known for their authenticity and have primarily
been sold in the ethnic channel in Germany.
“We are pleased to announce this strategic and complementary
acquisition,” commented Karan A Chanana, Amira’s Chairman and Chief
Executive Officer. “We believe that our team can quickly leverage
the strength of these brands and there continues to be many
opportunities ahead for us to expand our global business in both
emerging and developed markets as we look to capitalize on the
strong demand and favorable industry dynamics for branded,
packaged, premium specialty rice.”
Tobias Strerath, CEO of AMIRA BASMATI RICE GMBH EUR added, “The
addition of these specialty, packaged rice brands to our existing
portfolio will help us strengthen our presence in the key markets
of Hamburg and Berlin and creates a great opportunity to bring
competitive ethnic brands to our other national and international
customers.”
Amira first entered the German market through its acquisition of
AMIRA BASMATI RICE GMBH EUR in December 2013. The Company currently
sells its Amira, Atry, Sadry, Sativa, Scheherazade and Sultan
brands into more than 4,000 stores and leading retailers such as
Edeka, Metro and Rewe in Germany and in neighboring European
countries.
About Amira Nature Foods Ltd
Founded in 1915, Amira has evolved into a leading global
provider of branded packaged specialty rice and other food
products, with sales across five continents around the world. The
Company primarily sells Basmati rice, which is a premium long-grain
rice grown only in the geographically indicated region of the
Indian sub-continent, under its flagship Amira brand as well as
under other third party brands. Amira sells its products through a
broad distribution network in both the developed and emerging
markets. The Company’s global headquarters are in Dubai,
United Arab Emirates, and it also has offices
in India, Malaysia, Singapore, Germany,
the United Kingdom, and the United States. Amira
Nature Foods Ltd is listed on the New York Stock
Exchange (NYSE) under the ticker symbol “ANFI.”
For more information, please visit www.amira.net.
Safe Harbor for Forward-Looking Statements
This press release contains statements of a forward-looking
nature. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward-looking statements by words or
phrases such as “may,” “will,” “except,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“future” or other similar expressions. We have based these
forward-looking statements largely on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy and financial needs. There is no assurance that
our current expectations and projections are accurate. These
forward-looking statements include, but are not limited to:
- our goals and strategies;
- our operations and expansion
plans;
- our future business development,
results of operations, financial condition and financial
statements;
- our ability to protect our intellectual
property rights;
- projected revenue, EBITDA, adjusted
EBITDA, profits, adjusted profits, earnings, adjusted earnings and
other estimated financial information;
- our ability to maintain strong
relationships with our customers and suppliers;
- governmental policies regarding our
industry; and
- the impact of legal proceedings.
You should not place undue reliance on forward-looking
statements and you should read these statements in conjunction with
the risk factors disclosed in “Risk Factors” appearing in Amira’s
Annual Reports found on the SEC’s website located
at www.sec.gov. Those risks are not exhaustive. We operate in
a rapidly evolving environment. New risk factors emerge from time
to time, and it is impossible for our management to predict all
risk factors, nor can we assess the impact of all factors on our
business or the extent to which any factor, or combination of
factors, may cause actual results to differ from those contained in
any forward-looking statement. We do not undertake any obligation
to update or revise the forward-looking statements except as
required under applicable law.
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Amira Nature Foods LtdBruce Wacha, 646-779-1984Chief Financial
Officerbruce.wacha@theamiragroup.com
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