*

Hitt og þetta 30. apríl 2006

(IFN) Icelands Bakkavor to acquire UKs Laurens for GBP130M

Reykjavik (IFN) Icelandic food group Bakkavor has agreed to acquire UK-based chilled dessert manufacturer Laurens Patisseries Limited in a deal worth GBP130 million, the company said on Sunday.

The deal will be financed with a syndicated loan, to be led by Barclays, and shares in the Bakkavor group.

Bakkavor chairman Agust Gudmundsson said in a statement that the purchase was in line with the company's strategy to strengthen its position in the UK food market, but last year Bakkavor acquired UK's Geest for GBP485 million.

(END)

Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.