Bel and MOM Managers Complete Acquisition of MOM Group From LBO France
The Bel Group and the management team of the MOM Group today announced that the acquisition of the MOM Group was completed on December 15, 2016. Previously, completion of the deal was contingent on the approval of French and U.S. competition authorities, following an agreement to acquire the MOM Group from LBO France on October 20, 2016.
Bel is now MOM’s majority shareholder, holding 65% of ordinary shares, while MOM’s management team holds the remaining 35%. Michel Larroche will continue in his role as the MOM Group’s CEO.
The deal is aimed at creating a major global player in the healthy snacks segment, based on strong and innovative Bel and MOM brands, as well as highly complementary product ranges and territories.
This press release may contain forward-looking statements. Such trend and/or target information should in no way be regarded as earnings forecast data or performance indicators of any kind. This information is by nature subject to risks and uncertainties that may be beyond the Company’s control. A detailed description of these risks and uncertainties is provided in the Company’s Registration Document, available at (www.groupe-bel.com). More comprehensive information about the Bel Group can be found in the “Regulatory Information” section of the www.groupe-bel.com website.