Wessanen Sells Liberty Richter

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Wessanen Sells Liberty Richter

23 Nov 2009

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Liberty Richter specializes in the management of specialty food and beverage brands owned by third-party clients, a similar area of expertise to that of WFF.

23 Nov 2009 --- The Executive Board of Royal Wessanen nv announces that Liberty Richter, based in Bloomfield, New Jersey (USA), has been sold to World Finer Foods (WFF), also based in Bloomfield, New Jersey, for an undisclosed amount. Tree of Life Inc., a subsidiary of Wessanen, owns 45.2% of WFF shares. This divestiture is the first step in Wessanen’s strategy to divest its North American branded and distribution businesses.

Liberty Richter specializes in the management of specialty food and beverage brands owned by third-party clients, a similar area of expertise to that of WFF. Wessanen has outsourced the management of Liberty Richter to WFF since 2006. Liberty Richter generated revenues of approximately USD 31.5 million and an operating result of approximately USD 1.8 million over 2008.