Euronext Celebrates the New Business Combination of Greenyard Foods, Univeg and Peatinvest

Euronext Celebrates the New Business Combination of Greenyard Foods, Univeg and Peatinvest

Euronext Celebrates the New Business Combination of Greenyard Foods, Univeg and Peatinvest

The FINANCIAL -- Euronext on June 29 celebrated the business combination between Greenyard Foods, Univeg and Peatinvest to create a global leader in fruit and vegetables.

The combination happened through a contribution of 100% of Univeg, on the one hand as a partial demerger of its parent company, De Weide Blik (holding 95.4% in Univeg) and on the other hand as a contribution in kind of 4.6% of Univeg, and through a contribution of 100% of Peatinvest against newly issued Greenyard Foods shares. The listed company Greenyard Foods becomes the parent company of the newly formed group. Greenyard Foods owns 100% of the shares of Univeg and Peatinvest. In return, 25,513,065 million new shares of Greenyard Foods were issued to the shareholders of Univeg and Peatinvest, according to Euronext.

Vincent Van Dessel, CEO of Euronext Brussels, commented: “With over 200 global companies, Euronext is widely recognised as a leading venue for worldwide players. We are delighted to support Greenyard Foods’ management realize their growth plans and look forward to a long-standing partnership with the company.”

Alain Baetens, Head of Listings of Euronext Brussels, added: “The business combination of Greenyard Foods, Univeg and Peatinvest to a world leader in the food industry, with roots going back to the 1960s, is a new example of strong Belgian entrepreneurship and smart use of the financial markets. Since Greenyard Foods (originally Pinguin) was initially listed in 1999, the group has continuously built up its franchise across the world, and we are convinced that the current transformation will enable Greenyard Foods to further expand its global footprint among institutional and retail investors.”

Hein Deprez, Chairman of the Board of Greenyard Foods, declared: “We are proud to have opened the stock market today with our new combination of three companies under the name Greenyard Foods. In the last two decades, Univeg, Peatinvest and Greenyard Foods have become market leaders in their sector, thanks to their long-term vision and strategy, and their strong management teams who manage the operations of the companies. On this turbulent day, we send out a clear message that our companies are built in a sustainable way with a long-term focus based on healthy foundations, just like our products, namely fruit and vegetables. It is our ambition to build a healthier life by helping people to enjoy fruit and vegetables at every moment of the day, in a quick and pleasant way. The merger of the three companies creates the opportunity for us to carry out this mission and to continue our strong growth in the years to come.”

To celebrate the new business combination, Hein Deprez, Chairman of the Board of Greenyard Foods, and Marleen Vaesen, CEO of Greenyard Foods, rang the bell in Brussels to open trading on Euronext’s European market.