ARYZTA AG – Annual report – 31 July 2016
Industry: food and drink
29 Business combinations (extract)
29.1 Acquisitions in financial year 2016 (extract)
During the year ended 31 July 2016, the Group completed the 100% acquisition of La Rousse Foods, a supplier of fresh, frozen and ambient goods to various restaurants, hotels and caterers across Ireland.
The details of the net assets acquired and goodwill arising from this business combination are set out below. The goodwill arising on this business combination is attributable to the skills and talent of the in-place work-force and the synergies expected to be achieved from integrating the acquired operations into the Group’s existing businesses.
The net cash outflow on these acquisitions during the year is disclosed in the Group Consolidated Cash Flow Statement as follows: