DGAP-News

KTG Agrar SE takes over deep-freezing facility in Manschnow and leverages synergies

DGAP-News: KTG Agrar SE / Key word(s): Acquisition
KTG Agrar SE takes over deep-freezing facility in Manschnow and
leverages synergies

21.11.2014 / 09:30

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KTG Agrar SE takes over deep-freezing facility in Manschnow and leverages
synergies

- Vegetable processing capacity of 20,000 tons; warehouse for 10,000
pallets; 47 employees
- Numerous potential synergies within the KTG Group
- Expansion of the food segment to continue

Hamburg, 21 November 2014. The expansion of the food production segment is
resulting in more and more potential synergies for KTG Agrar SE (ISIN:
DE000A0DN1J4). "We have agreed much higher delivery volumes with German
retailers for the 2014/2015 season and also were quite successful at Sial,
the world's largest international food and beverage trade fair. We
therefore decided to take advantage of the attractive purchase option for
the Manschnow plant, which we have rented for about one year," said
Siegfried Hofreiter, CEO of KTG Agrar SE. "This will allow us to fully
leverage the potential of the plant and its highly motivated staff as well
as the synergies arising within the KTG Group." The company has bought the
deep-freezing plant in Manschnow, Brandenburg, from Pinguin Foods
Deutschland GmbH, a subsidiary of the Pinguin Group, Belgium.

The Manschnow plant will become a member of KTG Foods SE, the foods arm of
the KTG Group which comprises Frenzel Tiefkühlkost, Bio-Zentrale
Naturprodukte and Ölmühle Naturöl Anklam as well as the "Die Landwirte"
brand and the fresh produce facility in Linthe. The Manschnow plant
currently processes about 20,000 tons of frozen vegetables per year - and
rising. The plant consists of three packaging lines, which allow the
flexible packaging into bags and cartons, and has a storage capacity of
10,000 pallets. 47 employees are on the site. Based on the current growth
plans, additional jobs are likely to be created in the medium term.

The Manschnow plant will lead to numerous potential synergies for the KTG
Group - especially in cooperation with Frenzel Tiefkühlkost in Ringleben.
As the Manschnow plant focuses on the production of all deep-frozen
vegetable products of the Group, capacity will be freed up in Ringleben to
meet the growing demand for products such as ready-made potato dishes,
potato fritters, pancakes and cabbage rolls.

The takeover will strengthen the KTG Group and allow the very positive
development of the food segment to continue in the coming years. Having