D.E Master Blenders 1753 and Mondelēz International Receive Conditional Approval to Create Leading Global Coffee Business - Seite 2
Conditional Approval
On May 7, 2014, Mondelēz International and D.E Master Blenders 1753 announced their intention to combine their respective coffee businesses to create the world's leading pure-play coffee company. In October of 2014, the European Commission was formally notified about the proposed transaction. Today, the European Commission approved the combination of the respective coffee businesses subject to the conditions listed on their website.
New Management Team
The JACOBS DOUWE EGBERTS leadership team will be comprised of executives from both D.E Master Blenders 1753 and Mondelēz International:
Pierre Laubies, Chief Executive Officer
Fabien Simon, Chief Financial Officer
Roland Weening, President Europe II & ANZ
Jan van Bon, President Europe I & Brazil
Taras Lukachuk, President EEMEA
Peter Mueller, President Professional
Luc Volatier, Global Vice President Operations
David Smith, Global Vice President R&D
Fiona Hughes, Global Vice President Marketing
Bernd Dreymuller, General Counsel
Chet Kuchinad, Global Vice President HR
Transaction Completion
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The transaction is anticipated to close in the course of 2015, subject to remaining closing conditions, at which point Mondelēz International will receive cash of approximately €4 billion and a 49 percent equity interest in JACOBS DOUWE EGBERTS. Acorn Holdings B.V. (AHBV), owner of D.E Master Blenders 1753, will hold a majority share in JDE and will have a majority of the seats on the board, which will be chaired by current DEMB Chairman, Bart Becht. AHBV is owned by an investor group led by the JAB Holding Company (JAB) in partnership with BDT Capital, Quadrant Capital Advisors and Société Familiale d'Investissements. Mondelēz International will have certain minority rights.
Forward-Looking Statements
This press release contains a number of forward-looking statements. Words, and variations of words, such as "will," "expect," "intend," "anticipate" and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements about: the parties' entry into the transactions, the timeframe for completing the transactions and the financial and growth prospects for the new company; the cash proceeds and ownership interests to be received in the transactions; coffee market and sales growth; and the benefits of the transactions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Mondelēz International's control, which could cause Mondelēz International's actual results to differ materially from those indicated in these forward-looking statements. Such factors include, but are not limited to, risks that the parties will fail to successfully complete the transactions on the anticipated timeframe and that the transactions will not yield the anticipated benefits. Please also see Mondelēz International's risk factors, as they may be amended from time to time, set forth in Mondelēz International's filings with the SEC, including its most recently filed Annual Report on Form 10-K. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.