TRANSACTION ANNOUNCEMENT

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Bell Group acquires Hoppe GmbH

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Wiesbaden, April 11, 2011

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The Bell Group makes another acquisition in Germany by acquiring Hoppe GmbH. This move enhances Bell's existing business expertise. The increasing demand in the German market for high-quality convenience products shows significant growth potential in this segment. With this acquisition, Bell is responding to this development. Hoppe employs around 100 people and generates annual sales of approximately 20 million euros. The convenience food specialist will continue to operate as an independent company under the umbrella of the German Bell subsidiary ZIMBO Fleisch- und Wurstwaren GmbH & Co.KG. The management will be led by Christof Queisser, CEO of ZIMBO. Elisabeth Hoppe and Georg-Michael Hoppe will continue to support the company for a smooth transition. The acquisition is subject to approval by the Federal Cartel Office, with retroactive effect as of January 1, 2011. The terms of the transaction have been kept confidential. With Hoppe, Bell has found an ideal partner for its strategic direction in the convenience and snacks sector. The merger allows Bell to further complement its existing activities in this segment.

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About Bell

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Bell is the largest Swiss meat processor. Its product range includes meat, poultry, charcuterie, seafood, and convenience products. Customers include retail and wholesale, gastronomy, and the food industry. In Europe, the French company Polette and the German companies ZIMBO and Abraham are part of the Bell Group. More than 6,000 employees generated consolidated net sales of CHF 2.58 billion in 2010. Bell is listed on the Swiss stock exchange.

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About Hoppe

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The German Hoppe GmbH, based in Bad Wünnenberg, is a highly specialized premium convenience manufacturer in the minced meat product sector. The product range of the company, founded in 1973, includes classic and light minced products, as well as grill and snack items.

GVG Corporate Finance Advisors has acted as financial advisor to Bell Group in this transaction.