Dusseldorf, 6 August 2015. The Düsseldorf-based retailing company METRO GROUP has acquired the Classic Fine Foods Group (CFF) from private equity firm EQT. CFF is a leading premium food service distribution (FSD) player headquartered in Singapore, serving high-end hotels and restaurants in Asian mega cities and Middle East. The acquisition strengthens METRO GROUP´s wholesale subsidiary METRO Cash & Carry with dedicated FSD capabilities. It provides access to growth and value creation potential in the attractive premium FSD markets. The transaction covers the operations and all fixed assets of CFF for an enterprise value of $290 million plus an earn-out of up to $38 million depending on the EBITDA performance in 2015 to 2017.
For further information, please see the attached press release.