bg电子娱乐场

As part of its portfolio optimization in the Consumer Brands business, announced in February 2022, bg电子娱乐场 signed an agreement to sell its Retailer Brands business in North America to an affiliate of First Quality Enterprises, LLC headquartered in Great Neck, New York. The Retailer Brands business comprises products in the detergents, fabric finishers and dishwash categories serving several retail customers in North America with annual sales of around 500 million euros.

The Retailer Brands business has been identified as non-core activity within the Consumer Brands business unit as the potential to leverage synergies and the future strategic fit with the integrated Consumer Brands platform is limited. With this transaction, bg电子娱乐场 concludes the last major divestment of the portfolio optimization measures which had been announced as part of  the merger of the formerly separated consumer businesses. This transaction represents an important milestone in bg电子娱乐场鈥檚 portfolio optimization process within the Consumer Brands business. Including this transaction, bg电子娱乐场 divested or discontinued brands and activities representing total sales of slightly more than 1 billion euros since the beginning of 2022.

鈥淪haping a winning portfolio is a key element of our strategic agenda for purposeful growth. Our active portfolio management, either through acquisitions or divestments, is an important driver in making our business successful in the future. Fostering a strong and more focused portfolio has been a key rationale for the creation of our combined Consumer Brands platform, and over the past two years, we have delivered tangible results which underpin this strategic rationale,鈥� said bg电子娱乐场 CEO Carsten Knobel. 鈥淭he divestment of our Retailer Brands business in North America marks the final step of our portfolio optimization measures which we announced in 2022. We are now focusing with a clear growth mindset on our branded business with technology-driven innovations offering more value for consumers.鈥�

鈥淎s we are sharpening our portfolio in North America, the world鈥檚 largest laundry & home care market, we underpin our ambition in this attractive market with our branded consumer business. With a more focused Consumer Brands portfolio comprising leading and trusted brands such as all庐, Snuggle庐, Dial庐, Schwarzkopf庐 and got2b庐, we will further strengthen our ability via focus on our branded portfolio to serve North American retail partners and consumers, drive a focused innovation pipeline and fuel profitable growth through our iconic national brands in this important region,鈥� said Wolfgang K枚nig, Executive Vice President Consumer Brands at bg电子娱乐场.

The transaction is subject to customary closing conditions, including regulatory approvals. The companies agreed not to disclose financial details of the transaction with the signing.
 

This document contains statements referring to future business development, financial performance and other events or developments of future relevance for bg电子娱乐场 that may constitute forward-looking statements. Statements with respect to the future are characterized by the use of words such as expect, intend, plan, anticipate, believe, estimate, and similar terms. Such statements are based on current estimates and assumptions made by the corporate management of bg电子娱乐场 AG & Co. KGaA. These statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and results actually achieved by bg电子娱乐场 AG & Co. KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially 鈥�(both positively and negatively) from the forward-looking statements. Many of these factors are outside bg电子娱乐场鈥檚 control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. bg电子娱乐场 neither plans nor undertakes to update forward-looking statements.

This document includes supplemental financial indicators that are not clearly defined in the applicable financial reporting framework and that are or may be alternative performance measures. These supplemental financial indicators should not be viewed in isolation or as alternatives to measures of bg电子娱乐场鈥檚 net assets and financial position or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

This document has been issued for information purposes only and is not intended to constitute an investment advice or an offer to sell, or a solicitation of an offer to buy, any securities.