Hibernia Foods Acquires Entenmann's UK and Ireland Business

Hibernia Foods plc has reached an agreement with Bestfoods UK Limited, a wholly owned subsidiary of Bestfoods, to acquire the Entenmann's branded fresh sweet baked goods business in the UK and Ireland together with the Mr. Brain's branded savory meat-balls business. The businesses being acquired consist of a production facility in Bristol, England; exclusive European-wide license rights to the Entenmann's brand; the Mr. Brain's savory meat ball trademark and brand; and certain other license arrangements.

The Entenmann's business was first established in the UK in 1995 and in 1997 was named the fastest growing brand in the UK food and drink sector according to A.C. Nielsen.

Mr. Brain's savory meatballs is a 100 year old brand in the UK and is the market leader in its product sector.

Commenting on the announcement, Oliver Murphy, chairman and CEO of Hibernia said, ``We are extremely excited about this acquisition. The Bestfoods Baking Company, which includes the Entenmann's brand, generates approximately $1.6bn in revenue in the United States and has successfully established the Entenmann's brand in the UK market.''

Hibernia Foods plc is a leading manufacturer of frozen desserts, and frozen ready-meals headquartered in Dublin, Ireland with major manufacturing facilities in the UK.