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| JIFFY INTERNATIONAL AS ACQUIRES TREF B.V. | |
| The Supervisory Board of Tref BV and the Board of Directors of Jiffy International AS announce today their agreement to a transaction in which Jiffy International will acquire 100% of the shares of Tref B.V. The transaction, effective from March 31st , 2008, includes all peat reserves and operations/subsidiaries of Tref in the Netherlands, Estonia, Sweden, Germany and France. The combination of the two companies will result in an expanded market presence and higher service level for customers worldwide. Combining the strong position of Tref B.V. within peat, substrates and potting soils with Jiffy’s position as market leader within containerized growing media, enables the new company to bring the most complete portfolio of growing media products to the horticultural market. For customers, both young- and finished plant producers, this will translate into more convenient sourcing of high quality growing media in all forms – a real one-stop-shop. It is also expected that the combined know-how and R&D abilities of the two companies will bring out new and exciting products addressing the future of horticultural industry. Årstein Knutson, President and CEO of Jiffy International AS, says: “I am excited about the opportunities this acquisition will offer. By bringing together two of the strongest brands in the European horticultural industry the concept of complete provider of growing media can be developed, I know management in both Tref and Jiffy is eager to do so” Tref BV, with headquarters in Moerdijk, the Netherlands, is one of the leading substrate and potting soil suppliers in the Netherlands and among the big three in the entire European market. Jan Postma, chairman of the supervisory board of Tref BV speaking on behalf of the shareholders says; “This transaction is a very good combination that will bring more ‘growing power’ for Jiffy, Tref and their clients”. Jiffy International AS, with headquarters in Kristiansand, Norway, is the global number one in containerized growing media as well as a market leader in packet seeds and seed starter kits in the North American consumer market. For more information on the transaction please contact Dagfinn Andersen, telephone: +47 38105673 Jiffy International AS Henri van Beerendonk, telephone: +31 168413581 Tref B.V For information on Jiffy International AS and Tref.B.V. you may also visit their websites at www.jiffypot.com and www.trefgroup.com |
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