Amira Nature Foods Ltd Closes Strategic Acquisition In Germany
Amira Nature Foods Ltd (the "Company") (NYSE: ANFI), a leading global
provider of packaged Indian specialty rice, today closed the previously
announced acquisition of Basmati Rice GmbH, a specialty distributor of
Amira Nature Foods Ltd (the "Company") (NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today closed the previously announced acquisition of Basmati Rice GmbH, a specialty distributor of premium branded rice, particularly Basmati rice in Germany. Basmati Rice GmbH offers rice to consumers under the ATRY, Scheherazade, Sultan, Sativa and Sadry brands. These brands can be found in over 4,000 stores across Germany and Europe including but not limited to Edeka, Markant, Metro, Mpreis, REWE, Frischeparadies as well as in certain food service distributors. In addition, Basmati Rice North America, LLC is currently selling two brands including ATRY in over 340 U.S. supermarkets including certain Wegmans Food Markets, Inc., The Fresh Market and H-E-B locations across the Northeast, Atlanta and Texas regions. “We are extremely pleased to complete the acquisition of Basmati Rice GmbH and look forward to growing their complementary distribution in Germany, Europe and particularly in the U.S., to further expand sales of the Amira brand,” commented Karan A. Chanana, Amira’s Chairman and Chief Executive Officer. “We continue to believe this acquisition will be highly accretive as we grow our higher margin Amira branded Basmati rice business internationally and further leverage our vertically integrated operations.” Basmati Rice GmbH generated approximately $9.0 million in sales in calendar year 2013. The transaction is expected to be accretive to Amira’s current fiscal year 2014 earnings. Details of the transaction were not disclosed. About Amira Nature Foods Founded in 1915, Amira has evolved into a leading global provider of packaged Indian specialty rice, with sales in over 40 countries today. Amira sells Basmati rice, premium long-grain rice grown only in certain regions of the Indian sub-continent, under their flagship Amira brand as well as under other third party brands. Amira sells its products primarily in emerging markets through a broad distribution network. Amira’s headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, the United Kingdom, and the United States.