DUBAI, United Arab Emirates--(BUSINESS WIRE)--Amira Nature Foods Ltd (the “Company,” “Amira”) (NYSE: ANFI), a leading global provider of branded, packaged specialty rice, today announced that it has acquired a portfolio of packaged specialty rice brands which include Al Amir, Al Hakim, Bano, Dalia, Hanna and Shah Pari brands from Euro Basmati GmbH in Germany. These brands are well known for their authenticity and have primarily been sold in the ethnic channel in Germany.
“We are pleased to announce this strategic and complementary acquisition,” commented Karan A Chanana, Amira’s Chairman and Chief Executive Officer. “We believe that our team can quickly leverage the strength of these brands and there continues to be many opportunities ahead for us to expand our global business in both emerging and developed markets as we look to capitalize on the strong demand and favorable industry dynamics for branded, packaged, premium specialty rice.”
Tobias Strerath, CEO of AMIRA BASMATI RICE GMBH EUR added, “The addition of these specialty, packaged rice brands to our existing portfolio will help us strengthen our presence in the key markets of Hamburg and Berlin and creates a great opportunity to bring competitive ethnic brands to our other national and international customers.”
Amira first entered the German market through its acquisition of AMIRA BASMATI RICE GMBH EUR in December 2013. The Company currently sells its Amira, Atry, Sadry, Sativa, Scheherazade and Sultan brands into more than 4,000 stores and leading retailers such as Edeka, Metro and Rewe in Germany and in neighboring European countries.
About Amira Nature Foods Ltd
Founded in 1915, Amira has evolved into a leading global provider of branded packaged specialty rice and other food products, with sales across five continents around the world. The Company primarily sells Basmati rice, which is a premium long-grain rice grown only in the geographically indicated region of the Indian sub-continent, under its flagship Amira brand as well as under other third party brands. Amira sells its products through a broad distribution network in both the developed and emerging markets. The Company’s global headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, Germany, the United Kingdom, and the United States. Amira Nature Foods Ltd is listed on the New York Stock Exchange (NYSE) under the ticker symbol “ANFI.”
For more information, please visit www.amira.net.
Safe Harbor for Forward-Looking Statements
This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “except,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. There is no assurance that our current expectations and projections are accurate. These forward-looking statements include, but are not limited to:
- our goals and strategies;
- our operations and expansion plans;
- our future business development, results of operations, financial condition and financial statements;
- our ability to protect our intellectual property rights;
- projected revenue, EBITDA, adjusted EBITDA, profits, adjusted profits, earnings, adjusted earnings and other estimated financial information;
- our ability to maintain strong relationships with our customers and suppliers;
- governmental policies regarding our industry; and
- the impact of legal proceedings.
You should not place undue reliance on forward-looking statements and you should read these statements in conjunction with the risk factors disclosed in “Risk Factors” appearing in Amira’s Annual Reports found on the SEC’s website located at www.sec.gov. Those risks are not exhaustive. We operate in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. We do not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.