Amira Nature Foods Ltd Continues Expansion in Germany through Partnership with Dohle
27 February 2019 - 12:00AM
Business Wire
Amira Nature Foods Ltd (the "Company") (NYSE:ANFI), a global
provider of packaged specialty rice, today announced that its rice
bran oil product will now be sold through the Dohle Group which
operates 102 hypermarkets branded "Hit," located mainly in the west
of Germany, as well as 10 supermarkets in the Munich region.
Thomas Dennhardt, CEO of the Company’s German Subsidiary, Amira
Basmati Rice GmbH, commented, “We are excited to begin this new
relationship with the Dohle Group and further expand our retail
distribution network in Germany. Hit is known for its high-quality
hypermarket stores and commitment to the communities it serves, and
we are proud to partner with them to provide their customers with
our high-quality flagship German Brand Atry Rice Bran Oil.”
Rice bran oil is the oil extracted from the hard outer brown
layer of rice called chaff (rice husk) and contains a higher
percentage of vitamin E than olive oil. Rice bran oil is also rich
in oryzanol, which blocks cholesterol absorption and helps lower
LDL cholesterol levels and isn’t present in olive oil.
Initially, the Company will launch 1 SKU, Atry Rice Oil (500ml),
that will be available at all 89 company owned Hit locations in
Germany, with potential to expand the rollout of rice bran oil in
America as well.
About Amira Nature Foods
Founded in 1915, Amira has evolved into a global provider of
packaged specialty rice, with sales in over 40 countries today.
Amira sells Basmati rice, premium long-grain rice grown only in
certain regions of the Indian sub-continent, under their flagship
Amira brand as well as under other third party brands. Amira sells
its products primarily in emerging markets through a broad
distribution network. Amira’s headquarters are in Dubai, United
Arab Emirates, and it also has offices in India, Germany, the
United Kingdom, and the United States.
About Dohle
Dohle is a family-owned trading group and franchisor based in
Siegburg, Germany. It operates 77 HIT stores primarily in the
Rhineland and is a franchisor for a further 25 stores. The
supermarkets are between 2,500 and 5,000m² in size, with an annual
revenue of approx. €1.5bn. Dohle cooperates in purchasing and
logistics with Rewe Group (3rd largest retailer in Germany, larger
than Aldi). This cooperation allows Dohle to source their own
products and have them delivered through Rewe logistics, but also
that they have access to all Rewe own brands. Furthermore, Dohle
owns the Hotel Vier Jahreszeiten (Hamburg).
Cautionary Note on Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the U.S. federal securities laws. These forward-looking
statements generally can be identified by phrases that we or our
members of management use such as “believe,” “expect,”
“anticipate,” “foresee,” “forecast,” “estimate” or other words or
phrases of similar import. Specifically, these statements include,
among other things, statements that describe our expectations for
the global rice market, our expansion goals, the financial impact
of new sales contracts on our revenue, our expectations regarding
the successful efforts of our distribution partners, and other
statements of management’s beliefs, intentions or goals. It is
uncertain whether any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do, what impact they will have on our results of operations,
financial condition, or the price of our ordinary shares. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
indicated in such forward-looking statements, including but not
limited to our ability to perform our agreements with customers;
our ability to recognize revenue from our contracts as planned;
continued competitive pressures in the marketplace; our reliance on
a few customers and distribution partners for a substantial part of
our revenue; our ability to implement our plans, forecasts and
other expectations with respect to our business and realize
additional opportunities for growth; and the other risks and
important considerations contained and identified in our filings
with the Securities and Exchange Commission. All forward-looking
statements attributable to us or to persons acting on our behalf
are expressly qualified in their entirety by these risk factors.
Other than as required under the securities laws, we undertake no
obligation to update any forward-looking or other statements
herein, whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190226005119/en/
Wendy EguezThe Amira
Group+447340071854wendy.eguez@theamiragroup.com
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