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HKScan Acquisition of Rose Poultry Approved

12 November 2010

FINLAND/DENMARK - Finland's HKScan has obtained the required competition authority approvals for acquisition of Rose Poultry A/S.

HKScan Corporation announced on 9 September 2010 that it had signed an agreement to acquire the leading Danish poultry company, Rose Poultry A/S. The final approval by the competition authorities required to close the deal was obtained yesterday (11 November).

The next phase in the acquisition is closing the transaction and specifying the total purchase price, announced in the stock exchange release of 9 September 2010, as well as the number of HKScan Series A shares to be issued in consideration for the acquisition. Closing is expected to take place by the end of November, beginning of December. Separate releases will be issued to announce closing, the final total purchase price and the number of HKScan Series A shares to be issued in consideration for the acquisition.

The largest poultry company in Denmark, Rose Poultry produces annually more than 130,000 tonnes of poultry meat, which is sold under the company's own Rose brand as well as under private labels as fresh, frozen or processed products in the company's main markets in Denmark, Sweden and the UK. Rose Poultry has three production facilities in Denmark and the company employs approximately 1,000 people. Rose Poultry's net sales in the financial year 2008/2009 were approximately €211 million.

The acquisition will make HKScan the leading player in the poultry market in northern Europe.

ThePoultrySite News Desk

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