DEVRO PLC — Regulatory Filings 2015

Oct 6, 2015

National Storage Mechanism | Additional information

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RNS Number : 3081B

Devro PLC

06 October 2015

For immediate release                                                               6th October 2015

Devro plc

Completion of acquisition

Devro, one of the world's leading manufacturers of collagen products for the food industry, today completed the acquisition of PV Industries B.V. ("PVI").

As previously announced on 10 July 2015, Devro entered into an agreement to acquire 100% of the shares in PVI.  Completion of the acquisition was conditional upon clearance by the authorities in certain EU jurisdictions, which has since been received. 

PVI is a leading manufacturer of high quality collagen gel products to the meat processing industry. Based in the Netherlands, PVI offers Devro access to a strong technical skills base and an innovative and developing product portfolio. In 2014, PVI's EBITDA was €1.3 million on sales of €6.3 million.

Peter Page, Devro plc Chief Executive, said: "I would like to welcome the team at PVI to Devro and look forward to working together to support Devro's strategy by growing sales of collagen products through product differentiation and enhancing value for customers."

ENDS

For further information, please contact:

Devro plc Simon Webb, Group Finance Director	Tel No: 020 7182 4960
Buchanan Charles Ryland/Vicky Watkins/Robbie Ceiriog-Hughes	Tel No: 020 7466 5000

Notes to Editors

FTSE listed Devro (the "Group") is one of the world's leading providers of collagen casings to the food industry supplying a wide range of products and technical support to manufacturers of sausages, salamis, hams and other cooked meats. The Group employs 2,200 staff across the world and produces its casings from five manufacturing sites based in Scotland, Australia, the Czech Republic and the USA.  Devro reported sales of £232.3 million and profit before tax (before exceptional items) of £26.1 million for the year ended 31 December 2014.  Devro is a constituent of the FTSE4Good Index Series which recognises that the company's performance meets globally recognised corporate responsibility standards.

Further information on Devro can be found on the company's website: www.devro.com

This information is provided by RNS

The company news service from the London Stock Exchange

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