EANS-Adhoc: Valora Holding AG / Valora acquires Germany´s largest kiosk network - marking major milestone in Valora 4 Growth strategy

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30.01.2012

Valora acquires Germany´s largest kiosk network -
marking major milestone in Valora 4 Growth strategy

- Valora acquires Convenience Concept GmbH (CC), a company with some
1,300 retail outlets and projected external sales of around EUR 450
million (CHF 540 million) - Transaction makes Valora the leading
micro-retailer in Germany, Austria and Switzerland, with some 2,900
POS, enabling the firm to build on its position in Germany´s
small-outlet retail sector - Long-term enhancement in profitability
in line with previously announced Valora 4 Growth objectives
achievable - Strategic ties to Lekkerland to be strengthened

Valora acquires Convenience Concept GmbH (CC), a company with some
1,300 retail outlets and projected external sales of around EUR 450
million (CHF 540 million)

Valora´s purchase of the Lekkerland subsidiary Convenience Concept
(CC), Germany´s largest integrated kiosk network, has enabled the
Group to achieve a significant milestone in the implementation of its
Valora 4 Growth expansion strategy. CC´s portfolio of some 1,300
excellently situated outlets, 170 of which are travel retail units
occupying sites at public transport hubs, are an ideal match for
Valora Retail Germany. In its current network, CC operates the CIGO,
Tabak-Börse, ServiceStore DB, U-Store and Kio formats, as well as a
number of unbranded units. These outlets, all of which are operated
by independent business partners or franchisees, generated external
sales of some EUR 450 million (CHF 540 million) in 2011. This new
transaction and the Group´s earlier acquisition of the tabacon
network have enabled Valora to purchase Germany´s number one and
number four kiosk chains within the space of 18 months. Valora and
Lekkerland have agreed not to disclose the purchase price for CC or
the terms of the strategic collaboration planned between the two
firms. Valora´s existing loan facilities will provide the scope
required to finance the purchase. The transaction requires approval
by the Bundeskartellamt, Germany´s independent competition authority.

Transaction makes Valora the leading micro-retailer in Germany,
Austria and Switzerland, with some 2,900 POS, enabling the firm to
build on its position in Germany´s small-outlet retail sector

This expansion of its network to some 2,900 outlets makes Valora the
leading micro-retailer in the German-speaking markets. Taken in
conjunction with its network of just under 100 units in Luxembourg
and Austria, and the 1,200 or so outlets it operates in Switzerland,
this transaction also means that Valora Retail is now the
second-largest micro-retailer in Europe. The CC purchase will also
strengthen Valora´s position as a small-outlet retailer in Germany.
The deal will create the largest kiosk network in Germany, comprising
nearly 1,500 outlets (some 100 tabacon units, 90 k kiosk units and
the 1,300 CC sites) and commanding an estimated market share of
around 10 percent. In the first year of full consolidation of the CC
units, Valora expects to generate overall external sales in Germany
of some CHF 900 million, including the turnover from its current
network of some 170 railway station bookstores, but excluding any
further acquisitions. This means that the scale of Valora Retail
Germany will approach that of Valora Retail Switzerland with its four
formats (k kiosk, P&B, avec. and Caffé Spettacolo) and annual sales
of some CHF 1.2 billion.

Long-term enhancement in profitability in line with previously
announced Valora 4 Growth objectives achievable

Valora´s new network of nearly 1,500 units in Germany means that the
Group has now already largely exceeded its growth target of operating
some 1,000 German small-scale kiosk outlets by 2015. Current
projections indicate that gradual transformation of the new units to
the proven Valora/tabacon franchise concept, streamlining the network
so as to achieve a clear focus on three core brand formats (k kiosk,
CIGO and ServiceStore DB), a marked expansion of the convenience
store product range (in the areas of food, beverages and
confectionery) and increased promotion activities will enable Valora
to generate a substantial increase in the units´ profitability by
2015. Further streamlining of operations will also help Valora to
achieve major cost savings and economies of scale over the next few
years, raising CC´s EBITDA from some EUR 12 million in 2011 to more
than EUR 20 million in 2015.

Strategic ties to Lekkerland to be strengthened

Hitherto, Lekkerland Deutschland GmbH & Co. KG had grouped its German
retail activities together under its CC subsidiary. As part of this
transaction, Valora and Lekkerland will extend and strengthen their
strategic partnership. Lekkerland will continue to supply the 1,300
existing CC outlets for a further five years. Lekkerland´s contract
to supply its range of food products to the Valora-operated railway
station bookstores has also been extended and Lekkerland will supply
this product range to Valora´s tabacon units as well. Valora will
also benefit from the category management know how of Germany´s
largest convenience wholesaler. Michael Hoffmann, CEO of Lekkerland
AG & Co. KG, expressed his satisfaction with the transaction with
these words, "Lekkerland will now concentrate on wholesale, category
management, logistics and services. By supplying and advising these
units in the context of our enhanced strategic collaboration with
Valora, we will be working together to ensure the further enhancement
of the results generated by the CC outlets." The Valora Group´s CEO,
Thomas Vollmoeller, added, "Acquiring Convenience Concept is an
excellent opportunity, making it possible for us to achieve the
growth and profitability objectives we have set for our retail
business by 2015".

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A short presentation to accompany this press release is available on
www.valora.com

http://www.valora.com/media/documents/english/presentations/2012/2012
0130_kkiosk_network_en.pdf

Valora´s 2011 financial statements and future outlook will be
presented at the results conference to be held on March 28, 2012.
*********************************

Overview of Valora Retail´s new outlet network

Format Switzerland Germany Luxembourg Austria POS

k kiosk 1,000 90 70 1,160
tabacon 100 100
CC (various formats) 1,300 1,300
P&B 20 170 10 200
avec. 100 100
Spettacolo 40 40

Total 1,160 1,660 70 10 2,900

+++++++++++++++++++++++++++++++++
Valora Telephone Conference - Analysts´ and Media Conference
Acquisition Convenience Concept
Monday, January 30, 2012 | 14.00 CET (German) | 15:00 CET (English)

Thomas Vollmoeller, CEO of Valora Holding AG, and Lorenzo Trezzini,
CFO, will provide information about the transaction during a
telephone conference.

To participate in the conference: please call the following number
(please call 10 to 15 minutes before the stated starting time):

+41 (0) 91 610 56 00 (Europe)
+44 (0) 203 059 58 62 (UK)
+1 (1) 866 291 41 66 (USA - toll-free)

The playback will be available one hour after the conference for 24
hours till January 31st, 2012. To access the digital playback, please
dial:

+41 (0) 91 612 43 30 (Europe)
+44 (0) 207 108 62 33 (UK)
+1 (1) 866 416 25 58 (USA)

When prompted, enter the code 19706 (German) or 15821 (English)
followed by the # sign

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Valora

• Valora is an independent consumer goods trading company operating
on a Europe-wide scale (www.valora.com). • Valora operates in three
business areas, all of which are focused on supplying consumer
markets with strong sales potential. There is a clear emphasis on
European markets where modern, mobile lifestyles have become
widespread. Retail division A market leader in small and micro-outlet
convenience retail, operating standardised formats at heavily
frequented locations. Services division A market leader in the
distribution of press products to Valora-operated outlets and retail
partners, with additional wholesaling activities in press products
and retail merchandise. Trade division An exclusive distributor of
food and non-food branded goods to the large-outlet retail sector. •
In its Swiss, German Luxembourg and Austrian markets, Valora Retail
operates some 1,600 kiosks, convenience stores and gastronomy units
(see overview table above). • In Switzerland, Valora Retail is the
market leader in small and micro-outlet convenience retail, operating
standardised formats at heavily frequented locations through four
brands - k kiosk, avec. Press & Books and Caffè Spettacolo. • Through
its Press&Books outlets, Valora Retail Germany is the leading
bookseller at German railway stations and airports. In addition, the
company operates tobacco and press product outlets, mostly in
shopping centres and department stores.

• Lekkerland operates in nine European markets, where it supplies
some 130,700 filling station shops, kiosks, convenience stores, fast
food chains, tobacconists, beverage stores, department stores,
supermarkets, bakeries and canteens with a full range of
confectionery, beverages, snacks, convenience products, ice-cream,
frozen food, fresh produce, tobacco products, phone cards and
non-food articles. In 2010, the company, which employs more than
6,200 staff, generated sales of EUR 12.2 billion
(www.lekkerland.com).

• Convenience Concept GmbH: with a panoply of services ranging from
location planning to store layout and from product range strategy to
operational implementation, Convenience Concept GmbH is Germany´s
leading small-outlet convenience retail format specialist, providing
franchisee and operator concepts for convenience stores and
specialised press and tobacco retailing throughout Germany. In
conjunction with its partners, the company currently operates some
1,300 outlets in city centre locations, shopping centres, check-out
areas and public transport hubs nationwide.

Further inquiry note:
Media Relations: Phone: +41 58 789 12 01
Stefania Misteli E-mail: stefania.misteli@valora.com

Investor Relations: Phone: +41 58 789 12 20
Mladen Tomic E-mail: mladen.tomic@valora.com

Lekkerland
Inga Koenen Phone: +49 2234 1821 175
E-mail: inga.koenen@lekkerland.com

end of announcement euro adhoc
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issuer: Valora Holding AG
Hofackerstrasse 40
CH-4132 Muttenz
phone: +41 61 467 20 20
FAX: +41 58 789 12 12
mail: info@valora.com
WWW: www.valora.com
sector: Retail
ISIN: CH0002088976
indexes:
stockmarkets: Main Standard: SIX Swiss Exchange, stock market: BX Berne eXchange
language: English