Hafner and Smilde Bakery Begin Negotiation on Possible Acquisition of Délices du Palais

The strategic alliance would include a reciprocal distribution agreement for France (Hafner commercializes) and Benelux/ Germany (Smilde Bakery commercializes). This would allow both companies to market an even broader range of high quality bakery and patisserie products. In addition, both companies will work together to identify more synergies.

Feb 6 2012 --- The French company Hafner S.A. (Saint-Galmier, France) and the Dutch company Smilde Bakery BV (Edam, the Netherlands) are in negotiation about a strategic alliance including the possible acquisition of Délices du Palais (including the two factories in Renaison and Septeuil).

The strategic alliance would include a reciprocal distribution agreement for France (Hafner commercializes) and Benelux/ Germany (Smilde Bakery commercializes). This would allow both companies to market an even broader range of high quality bakery and patisserie products. In addition, both companies will work together to identify more synergies.

Délices du Palais is an international patisserie company producing and selling a wide range of products including choux, éclairs, tartlets, biscuit sheets and frozen cakes. These products are sold into retail, foodservice and artisanal markets.

The works council of Délices du Palais has been asked for advice.