Press Release
For Immediate Release
CAMPINA TO ACQUIRE INOVATECH ARGENTINA
ABBOTSFORD, BC, May 31 – Vitalus Group of companies announced today that it has entered into a Share Purchase Agreement with Campina to sell its Vitalus’ Argentine based company Inovatech Argentina. The acquisition will be effective June 1st, 2006.
Inovatech Argentina is located in Villa Nueva in the province Cordoba in Argentina. The company has some 65 employees and an annual turnover of EUR 12 million. Its core activities are the production of a range of dairy based ingredients, supplied to the food and nutrition industry worldwide. Major application areas are dairy, ice cream, and bakery-applications, as well as sports and nutrition products, and infant formulas. The plant is GMP, Kosher and Halal Certified.
Vitalus President J. Hugh Wiebe, will remain as an Advisor to Inovatech Argentina. Mr. Wiebe commented “that the acquisition for Campina is strategically a very good fit. Inovatech Argentina will benefit through continued growth of its value-added ingredients, increased market exposure and future opportunities.” He further stated “that Inovatech Argentina will provide Campina with a facility that is maintained to the highest standards allowing them to benefit from the efficient Argentine dairy industry infrastructure. It is our intention that Campina and Vitalus work closely together to achieve their joint objectives and continue to provide their customers with the high level of quality products and service they expect.”
Vitalus supplies "nutrifunctional" products to the industry; products that provide nutritional and/or functional benefits to ensure that its customers can create value-added finished products with cost-effective ingredients of the highest quality. Vitalus services its customers from its location in Abbotsford, BC Canada and its subsidiaries in the United States and the Netherlands.
Website: www.vitalus.com
For further information, please contact: Katrinia Walter, (604) 857-4528,
kwalter@vitalus.com
# # #
05-31-06