EANS-Adhoc: Valora Holding AG / Valora Trade to acquire Norway´s largest cosmetics distributor Engelschiøn Marwell Hauge AS (EMH)

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Valora Trade to acquire Norway´s largest cosmetics distributor
Engelschiøn Marwell Hauge AS (EMH)

02.09.2010

Valora Trade to acquire Norway´s largest cosmetics distributor
Engelschiøn Marwell Hauge AS (EMH) - Developing a new product
category with robust sales and margins - Reinforcing the division´s
position as a leading European distributor - Strengthening of Valora
Trade´s Nordic platform and raising its market share in Norway

Developing a new product category with robust sales and margins

In late October 2010, at a precise date to be determined, Valora
expects to close the acquisition of the privately-owned Norwegian
company EMH. Founded more than 80 years ago, EMH is Norway´s leading
distributor of cosmetics. The acquisition will raise Valora Trade´s
annual sales by some CHF 70 million. In addition, EMH´s current share
of more than 35% of the Norwegian cosmetics market will make the
division Norway´s leading cosmetics distributor. Valora Trade expects
to generate an EBIT margin of some 4% from this newly acquired
business. The division is thus investing in a highly attractive
consumer market in which it already has long-standing business
relationships.

Valora Trade is already one of Europe´s largest distributors of
branded goods to the organised retail sector. The distribution and
marketing expertise the division has established in recent years has
increasingly been deployed in niche markets. This advance into the
cosmetics category will now enable Valora Trade to extend its
existing product portfolio significantly.

Reinforcing the division´s position as a leading European distributor

Valora Trade will acquire a majority stake (80%) of EMH. The
company´s previous owner and continuing owner of the Sæther companies
in Denmark, Sweden and Finland, Ms. Ellinor Sæther, will remain a 20%
minority shareholder and continue to provide the firm with know-how
and expertise. Ellinor Sæther will also continue to support EMH by
remaining a member of the company´s board of directors. EMH´s staff
of some 110 employees are noted for their exceptionally high levels
of professionalism. They will make a significant contribution, along
with the firm´s existing staff, to Valora Trade Norway´s future
development.

Strengthening of Valora Trade´s Nordic platform and raising its
market share in Norway

The acquisition of EMH and its integration into Valora Trade existing
structures will further strengthen the platform the division has
established in the four Nordic markets, increasing its current annual
turnover of some CHF 500 million and significantly raising its
current market profile in Norway. Economies of scale will enable
synergies to be exploited.

No significant additional operating profit contribution is expected
from this transaction in Valora´s 2010 results.The transaction will
be financed from current cash flow. Both parties have agreed not to
disclose the purchase price or other details of the agreement.
Summing up the importance of this transaction, Thomas Vollmoeller,
Valora´s CEO, commented "This acquisition marks an investment by
Valora in a growing product segment. Making that investment in
Norway, one of Europe´s most promising markets for the future, is an
additional bonus. This move thus paves the way for Valora to achieve
further profitable growth in the years ahead".

*** EMH Engelschiøn Marwell Hauge Founded in 1927, EMH holds 35% of
the Norwegian cosmetics market, making it Norway´s leading
distributor and marketer of cosmetic products. The company´s turnover
in 2009 was slightly above NOK 400 million (around CHF 70 million).
EMH´s principal portfolio encompasses more than 50 prestige brands
such as Calvin Klein, Chanel, Clarins, Dolce & Gabbana, Guerlain,
Hugo Boss, IsaDora, La Prairie, Max Factor, Paco Rabanne, Shiseido,
Versace and others. EMH currently employs a staff of 110 people. ***

end of announcement euro adhoc
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ots Originaltext: Valora Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investor Relations: Tel: +41 58 789 12 20

Mladen Tomic E-mail: mladen.tomic@valora.com

Media Relations: Tel: +41 58 789 12 01

Stefania Misteli E-mail: stefania.misteli@valora.com

Branche: Retail
ISIN: CH0002088976
WKN: 208897
Börsen: BX Berne eXchange / stock market
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