AGA.L Regulatory News (AGA)

2 Feb 2006 07:42

AGA Foodservice Group PLC02 February 2006 2nd February 2006 FOR IMMEDIATE RELEASE GERMAN COMBI OVEN MAKER ACQUIRED BY AGA Aga Foodservice has acquired the German based combi oven maker, Eloma, for Euros10.5 million in cash from the German foodservice group, Gustatus. Eloma'sturnover in 2005 was Euros 21 million and EBITA on a proforma basis was Euros0.7 million. The warranted net assets at 31st December 2005 were over Euros 9.8million. Eloma specialises in combi steaming ovens and has over 25% of the German marketand 5% of the worldwide market which is dominated by the German group, Rational.Eloma also sells bakery ovens. Eloma's factory is in Dresden, eastern Germanyand it has a sales office and research and development centre in Munich. It hasover 150 employees primarily in Germany. Eloma is a well established business in central Europe, capable of adding AgaFoodservice products to its range and of providing combi ovens for AgaFoodservice's international operations notably in the UK and in the US. "A well known European and technically strong foodservice operation has been atarget of ours for some time and we are delighted to have made Eloma, a businesswith great international potential, part of our Group. The move will boost ourgrowing European foodservice operations." : William McGrath, Chief Executive AgaFoodservice Group plc. (-ENDS-) Enquiries: William McGrath, Chief Executive, Aga Foodservice Group plc - 0121 711 6015 Simon Sporborg/Nina Coad, Brunswick Group - 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange