Sligro Food Group N.V. — M&A Activity 2014

Jan 14, 2014

Press release

Sligro Food Group to take over Horeca Totaal Sluis B.V.

Sligro Food Group N.V., Veghel, and Horeca Totaal Sluis B.V., Sluis, trading as Deli XL Horeca Totaal Sluis, announce that they expect to reach agreement on the acquisition by Sligro of all the Horeca Totaal Sluis shares.

Horeca Totaal Sluis, which generated sales of €20 million in 2013, has a staff of around 40 full-time equivalents. Horeca Totaal Sluis serves mainly the recreational and institutional catering markets and its business is highly seasonal. It earns the bulk of its turnover from delivery services but also has a self-service outlet. Its activities fit perfectly with Sligro Food Group's foodservice operations. The parties have agreed not to disclose the purchase price. Sligro Food Group expects the acquisition to start contributing to its earnings per share immediately. Sligro plans in due course to deliver from Sluis to similar customers in the West Zeeland-Flanders region. The acquisition is expected to increase Sligro Food Group's share of the foodservice market by around 0.3%.

The employees' organisation and the Social & Economic Council (SER) have been informed, in accordance with the SER's Merger Code. Sligro Food Group's Staff Council has been asked for its recommendation. The parties aim to formalise the transaction in February.

Sligro Food Group encompasses food retail and foodservice companies selling directly and indirectly to the entire Dutch food and beverages market. Sligro's Foodservice division operates as a wholesaler and its Food Retail division as both a wholesaler and retailer. Sligro Food Group strives to be a high-quality company achieving steady, managed growth for all its stakeholders. In 2012 it generated net profit of almost €70 million on sales of close to €2.5 billion, employing an average of over 5,800 fulltime staff. Sligro Food Group shares are listed on Euronext Amsterdam.

Horeca Totaal, formed more than 50 years ago, has grown into a full-range supplier to small catering businesses, seasonal businesses and healthcare institutions and has built a strong position in the West Zeeland-Flanders region.

The management of Horeca Totaal Sluis, consisting of Reggie D'Hoore and Ed van Duijn, will remain in post and will concentrate initially on successful integration of the company within Sligro.

Veghel/Sluis, 14 January 2014

On behalf of the management of Sligro Food Group N.V.

Koen Slippens Huub van Rozendaal Tel. +31 (0)413 34 35 00 www.sligrofoodgroup.nl

Press liaison Wilco Jansen On behalf of the management of Horeca Totaal Sluis B.V.

Reggie D'Hoore Ed van Duijn Tel. +31 (0)117 46 13 20 www.horecatotaalsluis.nl