Rieber & Søn ASA : RIE: Acquisition of Rieber & Søn by Orkla now completed

  Rieber & Søn ASA : RIE: Acquisition of Rieber & Søn by Orkla now completed



Orkla ASA has today completed its agreement to purchase 69,900,380 shares in
Rieber & Søn ASA (RIE) through its wholly-owned subsidiary Orkla Brands AS
(hereafter called Orkla); see the stock exchange notification of 20 August
2012.

The purchase price per share, including accrued interests, is NOK 67.45. After
the acquisition, Orkla will own 90.11% of the shares in RIE.

The sellers of the shares are AS Atlantis Vest (34,427,090 shares, equivalent
to 44.38%), Zee Ploeg AS (33,773,290 shares, equivalent to 43.54%) and Flu AS
(1,700,000 shares, equivalent to 2.19%). None of the sellers will own shares
in Rieber & Søn after completion of the transaction. Fritz Rieber, who is a
board member in the selling entities, does not hold any shares in Rieber & Søn
ASA, but related parties of him holds in aggregate 1,038 shares.

Orkla will make a mandatory offer to the remaining shareholders in Rieber &
Søn based on the same purchase price per share that is being paid to the
Rieber family. A decision will be made in parallel to conduct a compulsory
acquisition of minority shareholdings, after which an application will be made
to delist the company's shares from the Oslo Stock Exchange.

"We have great respect for the company's traditions and what it has achieved.
Combined, Rieber & Søn and Orkla will be the leading Nordic food product
group, with the competence and resources to develop strong local products and
brands in competition with international companies," says President and CEO
Åge Korsvold i Orkla.

"The Rieber family has owned the company since it was established in 1839. We
are confident that Orkla offers the best industrial solution," says Fritz
Rieber on behalf of the Rieber family.

Rieber & Søn have a number of well-known brands and businesses: Toro is
Norway's leading supplier of sauces, soups and ready meals, among other
things. Other popular Norwegian brands in Rieber & Søn's portfolio are Denja,
Mr. Lee, Vossafår and Vestlandslefsa. Vitana is one of the Czech Republic's
largest and longest-established food manufacturers. K-Salat is well-positioned
in both Sweden and Denmark in the mayonnaise, remoulade and salad markets.
Delecta is one of Poland's leading dessert and baking mix brands. Frödinge is
market leader for refrigerated and frozen cakes and desserts in Sweden. Chaka
is a well-known Russian brand of nuts. Bähncke holds the leading position in
the Danish mustard market. In addition, Rieber & Søn is a supplier to the
out-of-home sector in Norway, Sweden, Denmark, the Czech Republic and
Slovakia.

Rieber & Søn ASA
Bergen, 26 April 2013

Ref.:
Legal Director
Knut Olav Kvinge
Phone: +4755 96 75 09

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

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Source: Rieber & Søn ASA via Thomson Reuters ONE
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