Sardus acquires Gourmet Service AB

The Sardus food products group, which is listed on the Stockholmsbörsen A-List, has signed a preliminary agreement covering the acquisition of all shares in Gourmet Service AB. Among other products, the company produces sandwich salads, sauces, salad dressings as well as salmon and shellfish pâté. Based in Stockholm, Gourmet Service has annual sales of SEK 80 M, with 24 employees. Gourmet Services’ customers are mainly within the institutional kitchen sector, but the company also delivers to the food processing industry and supermarkets. The seller is the company’s founder Rolf Bratt, who will continue to serve as the company’s president. Gourmet Services’ customers are mainly within the institutional kitchen sector, but the company also delivers to the food processing industry and supermarkets. The seller is the company’s founder Rolf Bratt, who will continue to serve as the company’s president. Fits into strategy Gourmet Service’s operations fit well into our strategy, which is to further broaden our range within the sandwich products and light meals segments,” says Ragnar Bringert, President of Sardus. “The company has major development potential in the supermarket and industrial kitchen sectors, is well-managed and has a profitability that meets our return requirements.” With Sardus as owner, we will be able to develop significantly faster than as a family-owned company, due to Sardus’ broad expertise and that we gain access to a considerably larger capital base,” says Rolf Bratt, President of Gourmet Service. Consolidation in fourth quarter When the acquisition is finalized, Gourmet Service will be organized with the Sardus Foodpartner business unit, which focuses on institutional kitchens, although many of the products will also be sold in supermarkets. The intention is to complete the purchase during the third quarter of this year, which means that Sardus will consolidate the company during the three last months of the year. Gourmet Service will contribute marginally to earnings in the fourth quarter. Helsingborg, August 29, 2003 AB SARDUS (publ.) Ragnar Bringert For further information, contact: Ragnar Bringert, President, +46 42 37 02 50, or +46 70 593 62 73.