Business
DCC to dispose of Robert Roberts and Kelkin
DCC to dispose of Robert Roberts and Kelkin.
About this update from Dcc Plc
[{"type":"text","content":"\n \nRNS Number : 9750S DCC PLC 30 September 2014 \n \n\n\n \n30 September 2014\n \n \nDCC to dispose of Robert Roberts and Kelkin \n \nDCC plc, the international sales, marketing, distribution and business support services group, has agreed to dispose of Robert Roberts (including Findlater Wine & Spirits) and Kelkin (together the \"businesses\") to Valeo Foods, a leading Irish foods group. The disposal is conditional on clearance from the Irish Competition Authority.\n \nRobert Roberts is a leading supplier of own brand and agency branded food and beverage products in the indulgence categories while Kelkin is a leading supplier of ambient healthy foods, beverages, fine foods and vitamins, minerals and supplements. Both Robert Roberts and Kelkin operate principally in the Irish market. In the year ended 31 March 2014, the businesses generated combined revenue of €120 million (£101 million) and combined operating profit of €7.3 million (£6.2 million), representing approximately 80% of the operating profit of DCC's food & beverage division. DCC's food & beverage division represented 3.7% of DCC's operating profit.\n \nThe total consideration for the businesses is €60 million (£47 million) on a debt free and cash free basis, payable in cash on completion. DCC expects to realise a modest gain on disposal over the carrying value including goodwill.\n \nTommy Breen, Chief Executive of DCC, said today: \n \n\"Robert Roberts, Findlater Wine & Spirits and Kelkin have a long and successful history in the Irish market and we expect them to continue to grow and develop under Valeo Foods' ownership.\"\n \n \nFor reference:\nTommy Breen, Chief Executive, DCC plc\nStephen Casey, Investor Relations Manager, DCC plc\n \nTelephone: + 353 1 2799400\nEmail: [email protected]\nWeb: www.dcc.ie \n \nMedia enquiries:\nWHPR - Brian Bell\nTelephone: +353 1 669 0030\nEmail: [email protected]\n \nPowerscourt - Matthew Fletcher / Lisa Kavanagh\nTelephone: +44 20 7250 1446\nEmail: [email protected]\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISLMMPTMBMJMMI\n ","length":3790,"tagName":"div"}]