EANS-Adhoc: Valora Holding AG / Valora achieves further milestone in its "Valora 4 Growth" strategy

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Valora achieves further milestone in its "Valora 4 Growth" strategy

21.06.2011

Valora achieves further milestone in its "Valora 4 Growth" strategy -
Acquisition of Sweden´s leading cosmetics distributor - Expansion of
Valora Trade Sweden´s existing product portfolio - New Scandinavian
Cosmetics distribution platform paves way for further growth
opportunities

Acquisition of Sweden´s leading cosmetics distributor

With its acquisition of Scandinavian Cosmetics (ScanCo), Valora has
secured ownership of Sweden´s largest independent cosmetics
distributor, thus successfully extending its implementation of the
"Valora 4 Growth" strategy launched in 2010. With 23% of nationwide
sales, ScanCo enjoys a leading position in the Swedish cosmetics
market, the largest in Scandinavia. The company, whose successful
operations were recognised through the award of the 2011
"Entrepreneur Company of the Year" prize for Southern Sweden, has so
far been privately owned and has been an established cosmetics
distributor for nearly 30 years. Ulf Ljunggren, who has owned the
company until now, will take on executive duties on the company´s
board, thus continuing to contribute his substantial cosmetics know
how and expertise. ScanCo´s closely knit, highly professional
management team will ensure that this well-known company continues to
develop and prosper as part of Valora Trade.

In 2010, ScanCo generated net revenues of some CHF 75 million on
which it earned an operating margin in excess of 4%. The purchase
price paid by Valora is within the 6-9 x EBIT target range defined in
its growth strategy. Valora will finance this transaction entirely
from cash generated from ongoing operations. Completion is expected
to take effect at the end of July 2011.

Expansion of Valora Trade Sweden´s existing product portfolio

Valora Trade Sweden´s net revenues already amount to some CHF 150
million. The acquisition of ScanCo will raise the company´s net
revenues significantly and to more than CHF 225 million. Moreover,
the acquisition will complement the current portfolio with a new
cosmetics category generating above-average levels of profitability.
This investment opens up additional growth opportunities for Valora
Trade in one of Scandinavia´s key markets, which the company will
pursue through more efficient use of its expanded product portfolio
and through initiatives to develop new markets. So far, specialised
cosmetics retail has been Scandinavia Cosmetics main sales channel.
In future, Valora Trade Sweden´s broad market coverage, particularly
in areas such as Grocery Trade, will provide further opportunities
for sustained and profitable growth.

New Scandinavian cosmetics distribution platform paves way for
further growth opportunities

Following Valora´s purchase of EMH in 2010, its acquisition of ScanCo
marks a further significant milestone in the creation of a
cross-border Scandinavian cosmetics platform. This will enable Valora
Trade sustainably to develop its position in this profitable market,
and will make it very well placed to expand further in other Northern
European markets. As Thomas Vollmoeller, Valora´s CEO, puts it, "This
second acquisition in cosmetics distribution in less than a year (EMH
and now ScanCo) has strengthened our position in this growing and
profitable product category. It is also entirely congruent with our
"Valora 4 Growth" strategy."

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************ Scandinavian Cosmetics (ScanCo) Founded in 1984, ScanCo
is the clear market leader among Sweden´s independent cosmetics
distributors. The company´s 2010 sales amounted to over SEK 560
million (some CHF 75 million). ScanCo´s product range encompasses
many exclusive brands, including Max Factor, Hugo Boss, Lacoste,
Gucci, Dolce Gabbana, Escada, Puma, Kenzo, Bvlgari, Clarins, Kanebo
and Olay. The firm currently employs some 100 staff. ****************
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Further inquiry note:
Media Relations: Phone: +41 58 789 12 01
Stefania Misteli E-mail: stefania.misteli@valora.com

Investor Relations: Phone: +41 58 789 12 20
Mladen Tomic E-mail: mladen.tomic@valora.com

end of announcement euro adhoc
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issuer: Valora Holding AG
Hofackerstrasse 40
CH-4132 Muttenz
phone: +41 61 467 20 20
FAX: +41 58 789 12 12
mail: info@valora.com
WWW: www.valora.com
sector: Retail
ISIN: CH0002088976
indexes:
stockmarkets: stock market: BX Berne eXchange, Main Standard: SIX Swiss Exchange
language: English