Zurich, 4 September 2019
ORIOR, the internationally active Swiss food & beverage group, has increased its interest in Casualfood to 70 %, which further strengthens its broader strategic footprint by adding a new centre of competence specialised in small scale food islands in the fast-growing food service to-go market.
In the fall of 2018, ORIOR announced the multi-stage acquisition of Casualfood, beginning with an initial 35 % interest in the company. Having purchased an additional 35 % interest, ORIOR now owns a majority stake and Casualfood has been integrated into the ORIOR International segment as an independent centre of competence. Casualfood will therefore be fully consolidated as of September 2019. The purchase of this additional interest has been financed with internal funds and through existing lines of credit. ORIOR intends to acquire all remaining Casualfood shares in stages by 2022.
Casualfood's two founders and co-CEOs, Stefan Weber and Michael Weigel, are pleased that their successful company is becoming part of the ORIOR family and Weber will take a seat on the Group's Extended Executive Committee. Daniel Lutz, CEO of ORIOR Group, is also pleased: “Casualfood is a great company. The fine sense for brand worlds and trends is remarkable. Their success is also based on an unconventional, agile and creative way how this team creates new brand worlds with concise stories and their proximity to consumers with a strong focus on small scale food islands.”
Further information about Casualfood (links)
Details on Casualfood's business model and core competencies can be found in the media release and presentation dated 4 September 2018. Please visit www.casualfood.de for further information on Casualfood's brand concepts and history.
Milena Mathiuet, Head of Corporate Communications & Investor Relations
Telephone +41 44 308 65 13, e-mail: email@example.com
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