September 4, 2018 / 4:19 AM / 3 months ago

BRIEF-Orior Is Acquiring A 35 Pct Interest In Casualfood

Sept 4 (Reuters) - Orior AG:

* ORIOR IS ACQUIRING A 35% INTEREST IN CASUALFOOD

* CASUALFOOD GENERATES ANNUAL REVENUES OF ABOUT EUR 52 MILLION, PRIMARILY IN ITS DOMESTIC GERMAN MARKET

* ORIOR'S INTEREST IN CASUALFOOD WILL BE INCREASED IN SEVERAL STAGES TO 100% OVER NEXT FEW YEARS

* ORIOR GROUP WILL HOLD A MAJORITY INTEREST IN CASUALFOOD AND FULLY CONSOLIDATE ITS PARTICIPATION FROM AUTUMN 2019 ONWARDS

* ACQUISITION WILL BE FINANCED WITH FREELY AVAILABLE CASH AND EXISTING LINES OF CREDIT

* CASUALFOOD WILL OPERATE AS AN INDEPENDENT CENTRE OF COMPETENCE WITHIN ORIOR INTERNATIONAL SEGMENT

* CASUALFOOD'S TWO FOUNDERS STEFAN WEBER AND MICHAEL WEIGEL WILL STAY ON WITH COMPANY AS SHAREHOLDERS AND MANAGING DIRECTORS Source text for Eikon: Further company coverage:

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