EANS-Adhoc: Valora Holding AG / Valora completes its acquisition of the Ditsch/Brezelkönig group of companies and expects to report operating profit of some CHF 65 million for 2012

--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------

other/Valora completes its acquisition of the Ditsch/Brezelkönig
group of companies and expects to report operating profit of some CHF
65 million for 2012 19.12.2012

Valora completes its acquisition of the Ditsch/Brezelkönig group of
companies and expects to report operating profit of some CHF 65
million for 2012

- Exchange listing of the 635,599 registered shares issued to Ernst
Peter Ditsch completes Valora's acquisition of the Ditsch/Brezelkönig
group of companies - Transaction marks further milestone in Valora
Retail's acquisition-led expansion - Valora Services sees decline in
press sales unabated - Valora Trade's margins on traditional product
lines under pressure in Scandinavia

Exchange listing of the 635,599 registered shares issued to Ernst
Peter Ditsch completes Valora's acquisition of the Ditsch/Brezelkönig
group of companies

As part of the completion of its acquisition of the
Ditsch/Brezelkönig group of companies, which came into effect on
October 31, 2012, Valora Holding AG created additional share capital
amounting to 635,599 new registered shares. The new shares were
transferred to Ernst Peter Ditsch in part payment of the agreed
provisional purchase price of CHF 367 million (based on an agreed
valuation of the company on the consolidation date and a valuation of
the share-based component in line with the shares' closing price on
October 1, 2012). The 635,599 new Valora Holding AG registered
shares, which were recorded in the commercial register on November 6,
2012, will be listed on SIX Swiss Exchange and BX Berne eXchange with
effect from December 20, 2012. These listings will be announced in a
listing prospectus to be published on December 20, 2012, in
accordance with the requirements of the two exchanges concerned.

Transaction marks further milestone in Valora Retail's
acquisition-led expansion

The listing of these new shares marks the completion of a further
milestone in the acquisition-led expansion of Valora's Retail
division. Valora Retail's purchase of the vertically integrated
Ditsch/Brezelkönig group of companies, which holds a strong position
in the attractive market for immediate-consumption food and
beverages, ideally complements the division's current business
activities. This transaction can thus be expected to enable
substantial synergies to be exploited over time. Ditsch/Brezelkönig,
which has now been consolidated into the Valora Group's operations,
has been performing well since being acquired by Valora, matching the
expectations placed on it. The expansion Valora aims to achieve with
the new business unit continues to appear realistic.

In 2012, Valora has thus significantly raised its market profile,
most notably in Germany, where the integration of Convenience Concept
(which Valora acquired in April 2012) has also been progressing
according to plan, and has also created promising scope for expansion
and synergy-related benefits. The Valora Group, which now operates a
total of more than 3,000 sales outlets in Germany, Austria,
Switzerland and Luxembourg, has established an extremely strong
position for itself in European markets. Optimisation of its current
outlet formats and expansion of its food product lines also enabled
Valora to accelerate its organic sales growth rates.

Valora Services sees decline in press sales unabated

Press wholesale operations are continuing to experience an ongoing,
marked decline in volumes. The Group's disposal of its Valora
Services Austria subsidiary in October 2012 has helped to reduce its
exposure to the press market. With trading conditions remaining
extremely challenging in Switzerland and Luxembourg, all possible
avenues leading to a long-term solution are being explored.
Meanwhile, the division's initiative to develop non-press logistics
services for third-party customers is generating encouraging results.
While this distribution service, operating under the "nilo" banner,
still has the potential to deliver further growth, it will not be
able fully to compensate for the decline in press wholesale volumes.

Disposal of wholesaling operation under consideration

Valora's retail goods wholesaling operation generated sales of some
CHF 100 million in 2011. A number of potential alternative future
arrangements for this business, which is of only marginal strategic
importance to Valora Services, are under consideration. Solutions
being evaluated include a possible sale. Talks with potentially
interested parties are already under way.

Valora Trade's margins on traditional product lines under pressure in
Scandinavia

The 4th quarter 2012 performance of Valora Trade's traditional
product categories (confectionery, food and non-food products) has
been significantly below expectations, particularly in Scandinavia.
The pronounced consolidation of the retail markets in Sweden and
Norway has been an especially noteworthy factor here, with Valora's
role as a service-provider linking manufacturers with retailers
presenting considerable challenges. Numerous measures have already
been implemented to counteract this adverse trend, and these are
expected to start yielding results during the first six months of
2013. Valora Trade's new cosmetics category in Norway and Sweden,
conversely, is achieving encouragingly robust performance.

Outlook for 2012 results

Valora expects to be just on target to report an operating profit of
some CHF 65 million for 2012, at the lower end of its guidance range
of CHF 65-70 million. This principally reflects the unexpectedly
challenging conditions facing Valora Trade in Scandinavia,
acquisition-related project costs, a number of one-off effects and a
positive trend for November and December 2012.

Valora Holding AG will publish its definitive 2012 results on March
26, 2012, when the firm will also report further on the course of its
ongoing strategic development.

Further inquiry note:
Investor Relations: Tel: +41 61 467 36 50
Mladen Tomic E-Mail: mladen.tomic@valora.com

Media Relations: Tel: +41 61 467 36 31
Stefania Misteli E-Mail: stefania.misteli@valora.com

end of announcement euro adhoc
--------------------------------------------------------------------------------

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