R&R Ice Cream to expand in Germany - 2 December 2011

R&R Ice Cream to acquire Durigon Gelato GmbH

R&R Ice Cream (“R&R” ) has agreed to acquire, for an undisclosed sum, the issued share capital of Durigon Gelato GmbH ( “Durigon” ). This is conditional only on clearance from the German Federal Cartel Office which has been notified of the acquisition.

Based at Schwanewede-Brundorf near Bremen with 70 employees, Durigon – whose sales in 2010 were €20m - manufactures tubs in different sizes from 200ml to 5000ml, sandwiches and other ice cream products for the private label market and also under the Durigon brand. The Italian ice cream specialities sell throughout Germany as well as other EU countries.

R&R plans to invest in the Durigon factory and grow sales as an integral part of its strategy to develop its private label business in Germany. The Durigon brand will be retained and complements the existing portfolio of R&R brands.

Werner Durigon, who will continue as managing director of Durigon, commented, “I am pleased that our family’s and employees´ long association with Durigon will continue within the R&R group and look forward to strong future growth in our factory at Schwanewede”

Dr Ibrahim Najafi, CEO of R&R Europe, said: “I am delighted that Werner and Daniel Durigon will stay with the business and join the R&R team. We are excited about the potential for Durigon through using the resource and experience of R&R to further develop a respected and long-standing family business.”

For further information please contact: Richard Graham RGPR Tel: 01765 640736/07721 526483

Editor’s Notes R&R Ice Cream was created in 2006 by Oaktree Capital Management merging Richmond Foods plc with Roncadin, the largest private label manufacturer in mainland Europe. In 2010 the business acquired Rolland - France’s third largest ice cream manufacturer and further strengthened its French operations with the €27 million acquisition of Pilpa SAS in September 2011. The group has eight factories, a turnover which should exceed €600 million in 2012, and some 2,000 employees in Germany, France, Poland and the UK.