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Unifine F&Bi acquires Mundipam (Portugal)

6 June 2006

Unifine Food & Bake Ingredients (Unifine F&Bi), a member of Royal Cosun (Breda, Holland), and the shareholders of Mundipam Produtos Alimentares SA, a Portuguese producer of pastry and bakery ingredients, have reached agreement on Unifine F&Bi’s acquisition of 100% of the shares in Mundipam. The transaction will take effect on 31 May 2006.

Unifine Food & Bake Ingredients’ ambition is to be one of the top three suppliers of fine bakery ingredients in Europe. With this acquisition, it will reinforce and consolidate its leadership in the Iberian market, and thus implement its strategy of expanding in southern Europe.

Mundipam is established in Palmela, south of Lisbon. The company realises an annual turnover of EUR 3.5 million and has a staff of 14. The production facility measures some 5,000 m2. The main products are in powder form for the fine bakery market, such as pastry mixes and custard cremes.

Breda, 6 June 2006