AUSTRIA: NEW INVESTOR TO HELP ANKERBROT
Article Abstract:
The German parent company Muller Brot has found a large investor to rescue the troubled Austrian subsidiary Ankerbrot. The investor, the name of whom was not yet disclosed, is to invest Sch 500mn in the Austrian bakery. In return, a bank consortium is to forgo 30% of the Sch 750mn owned by Ankerbrot. Ankerbrot saw a loss of Sch 200mn for 1999. According to a restructuring plan by Roland Berger, a holding company should be established for Muller and Ankerbrot. The new investor should take a minority stake in the holding. Despite the rescue plans, Ankerbrot will probably have to close branches.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: ANKERBROT BETTING ON FRANCHISING
Article Abstract:
The Austrian bakery chain Ankerbrot, which is controlled by Muller-Brot of Germany, aims to convert half of its outlets into franchise ones from year 2001. According to director Hasso von During, Ankerbrot has already managed to raise capacity utilisation by revising product range, reorganising sales to the food retail trade, and by offering party snacks to caterers. In year 2000 Ankerbrot is to close about 25 of its 325 outlets and at the same time open 15 new ones. Another 25 of the existing locations are likely to be closed in the medium term because they are too small. Ankerbrot is to increase the sales of snacks eaten on the premises. In some outlets snack sales already contribute 40% to sales. Currently 10% of Ankerbrot outlets are open on Sundays. The company wants to increase the number and is to apply for catering licences to that effect.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: LOSSES UP AT ANKERBROT
Article Abstract:
At the Austrian bakery Ankerbrot, losses on ordinary activities increased from Sch 236mn to Sch 374mn on an unchanged turnover of Sch 2.2bn in 1999. Among other things the restructuring of outlet network and higher interests contributed to the increased losses, while operating losses accounted only for Sch 20mn of the total. Anker wants to get into the black in 2003. In 2000, Anker is to invest Sch 200mn in old and new bakery outlets, while 25 outlets will be closed.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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