PRNewswire - December 13, 2007
ThreadGreen Partners LLP today announced the sale and subsequent leaseback of the real estate portfolio of Orior Ltd, comprising six commercial properties spread across Switzerland, to ThreadGreen Industrial Limited. The properties, with overall usable area totalling approximately 68,221 squared metres of office, distribution, production and cold storage space, were sold for CHF 103 million (approximately EUR 61.6 million) to the Guernsey Fund.
Orior is the largest independent convenience food company in Switzerland with leading market shares in all segments of its product offerings. The Company dates back to 1929.
The Facilities comprise substantially all of the manufacturing operations of the Company and the majority of the Company's revenue is generated from the Assets. Furthermore, the Company has invested over CHF 200 million in the maintenance and modification of the assets over the past ten years. The assets are in good condition and considered of strategic importance to the industry which Orior serves. Given its strong market position, it is expected that the Company will continue to realize historical levels of profitability moving forward.
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