Acomo Acquires Leading Position in Worldwide Tea and Seeds Trade

Rotterdam, Netherlands, May 11, 2010 (ots/PRNewswire) - Amsterdam
Commodities N.V. (Acomo) has reached an agreement with N.V. Deli
Maatschappij (Deli) to buy its tea and seeds businesses for a total
consideration of about EUR 100 million. The trading house specialized
in spices, nuts and food ingredients is doubling its size. By taking
over the Van Rees Group en Red River Group of companies, Acomo is
acquiring a leading position in the tea and seeds trade, with
worldwide activities and offices on four continents. The proposed
take-over, which is subject to shareholders' approval, represents a
breakthrough for Acomo which celebrated its 100 years of public
listing at the Amsterdam stock exchange in 2008. The acquisition
fits seamlessly with the company's strategy defined in recent years,
namely 'Focus on Food'.

Key points of the acquisition
    - Pro forma 2009 sales increase by 140% from EUR 165 to EUR 396 million;
    - Van Rees en Red River Commodities 2009 combined EBITDA of EUR 24.4
      million and net profits of EUR 13.5 million (Acomo: EUR 10.5 million)
    - Combined company staff approximately 450
    - Tea and seeds will form two additional, mature divisions within the
      Acomo group, alongside Catz International (spices and herbs)
    - Substantial earnings per share growth potential
    - Strong balance sheet ratio's maintained
    - Wider shareholders' base leading to improved share liquidity

The acquisition consideration totals about EUR 100 million. Acomo
is paying EUR 67.5 million in cash, EUR 8 million in shares and EUR
5 million in convertible bonds.

In addition it will assume net debts of approximately EUR 20
million (as per 31 March 2010).

"This attractive acquisition is the result of many years of work.
It is a great opportunity for our shareholders: we diversify our
product portfolio, diversify our trading risks and create new
potential for substantial growth of our earnings per share," says
Acomo's managing director Stephane Holvoet.

Both business units of Deli hold leading positions in their
respective markets. According to Holvoet they have well experienced
and capable management and trading teams. "In this aspects the two
companies are very similar to our trading activities in spices. We
share the same trading spirit, have a similar historical background
and our company cultures match. We share the same vision towards
business ethics and long-term value creation."

Jack van de Winkel, Chief Executive Officer of Deli, comments on
the sale: "We are happy we have reached an agreement. We are well
acquainted with Acomo. Our tea and seeds businesses fit very well in
the Acomo group and I trust that their existing potential and plans
will be realized. At Deli, a company with approximately EUR 1.2
billion in sales and 3,000 employees, the emphasis is the supply of
timber and building materials to the construction sector and the
supply of constructive and decorative materials to DIY chains and
garden centers. Expansion in all sectors at the same time is not
always possible. We are convinced that Deli's tea and seeds
businesses will even be in a better position to realize their
potential as part of Acomo."

Van Rees en Red River offer Acomo direct access to a worldwide
network of customers and producers, together with the appropriate
product and market expertise, own processing facilities and the
customer service level that is highly appreciated by the market.
Both companies are financially sound and can rely on an outstanding
reputation with suppliers and customers. Those criteria form the
basis of their success and are comparable with those at Catz
International. "Based on our focus on food commodities, the two
groups present ample opportunity for growth, both through organic
growth and through acquisitions," concludes Holvoet.

Van Rees Groep (http://www.vanrees.com) is the largest
independent tea trader in the world with facilities in The
Netherlands, Sri Lanka, Kenya, Malawi, Indonesia, Egypt, the UK,
North America, Russia and Vietnam. The group has direct access to
producers in all major tea producing countries, including Argentina
and China. Van Rees trades, processes, blends and distributes 80,000
tons of tea worldwide, representing an annual turnover of $ 182
million in the year ended at 31 March 2010. Customers include major
international tea packers and large regional tea packers. The company
employs approximately 130 staff and operates its own specialized
blending and storage facilities in most of the countries where it
operates.

Red River Commodities (http://www.redriv.com) with headquarters
in Fargo, North Dakota, is a leading player in the worldwide trade,
cleaning, processing and distribution of confectionary sunflower,
caraway and poppy seeds. These products are sold to the food
industry, wholesale traders and retail chains. Red River also
produces and supplies seeds based snacks, mainly salted & roasted
in-shell sunflower seeds. It also holds a strong position on the
wild bird food market. In The United States, wild bird food is the
second largest leisure pastime after gardening. The group also
produces 'SunButter(TM)', a highly successful anti-allergic
alternative for peanut butter. Red River processes 180,000 tons of
seeds representing sales of $ 145 million in the last fiscal year.
The seeds activities include four production sites in North Dakota,
Kansas and Texas, In addition to Red River Van Eck B.V. in
Zevenbergen, The Netherlands, specializes in caraway seeds and poppy
seeds. According to Bernard Stuivinga, Chairman of Acomo's
Supervisory Board, the new tea and seeds businesses fit perfectly
into Acomo's decentralized management structure and with the
company's style of management and risk control. "The acquired
companies will retain their structure and their existing management
teams, who have proven capable of realizing healthy growth and
margin improvement over the past years."

Financing

The acquisition purchase price including net debt amounts to just
over EUR 100 million. This will be financed by the issue of 1.5
million new shares, by EUR 7 million own cash and by bank loans
through ING Bank.

Furthermore, Acomo will issue convertible bonds totaling EUR 40
million which have been subscribed by professional investors with
the assistance of SNS Securities N.V.

The convertible bonds are subordinated, have a 6 years tenor and
can be converted into shares starting six months after the issue
date. The coupon interest is set at 5.5% and the conversion price is
EUR 7.39 (25% over the average share closing price in the 20 trading
days prior to and including 7 May 2010, i.e. EUR 5.91). Including
the shares that will be issued at closing to Deli, the total number
of shares outstanding will - at the present conversion price -
increase to a maximum of 23,247,586.

New major shareholder

Deli (http:// www.deli-maatschappij.nl) will hold a 8.4% stake in
Acomo at closing. Deli has agreed not to sell its shares within 12
months after the transaction. In addition Deli will participate in
the convertible bond issue for EUR 5 million. After a possible full
conversion Deli's stake will increase to 9.4%. This makes Deli the
sixth major shareholder.

Subject to Shareholders' approval, Deli will propose a
representative in Acomo's Supervisory Board. The new shareholder
undertakes to retain the shares it will receive in the sale of the
tea and seeds business at least for one year.

Approval transaction

The acquisition of the tea and seeds businesses and the issue of
(rights to) new shares, is subject to the approval of the General
Shareholder's Meeting (AGM) to be held on 27 May 2010. The
Shareholders' circular that has been prepared in accordance with the
legal obligations of article 2.107a(c) BW and containing additional
information on the transaction, is published on Acomo's website,
http://www.acomo.nl

Acomo and Deli Maatschappij expect to conclude the transaction on
or before 30 June 2010.

Enclosures
- Historical background Acomo en Deli Maatschappij
- Organizational chart after acquisition
- Management and Supervisory Board Acomo
- Major shareholders Acomo
- Acomo press release annual figures 2009
- Shareholders' circular

Press conference

On 11 May 2010, a press conference will be held in The Amsterdam
Hilton Hotel, starting from 11.30 to 13.00 hours. Address:
Apollolaan 138; phone +31-20-7106000.

Present: Mr. S.G.J. Holvoet (managing director Acomo), Mr. B.H.
Stuivinga (chairman of The Supervisory Board) and Mr. J.M.M. van de
Winkel (Chief Executive Officer N.V. Deli Maatschappij).

Notes to editors

About Amsterdam Commodities N.V. (Acomo)

Amsterdam Commodities N.V. (Acomo) is an international group in
the trade and distribution of agricultural commodities, mainly
spices (Catz International, 100%), natural ingredients for the food
industry (TEFCO EuroIngredients and Snick EuroIngredients, both
100%) and natural rubber (RCMA Commodities Asia, 43%) and is
actively buying and selling in more than 90 countries. The shares of
Acomo are listed on NYSE Euronext Amsterdam since 1908.

http://www.acomo.net

About Deli Maatschappij

Deli Maatschappij is a leading trading and distribution company.
Its main lines of business are supply of timber and building
materials to the construction industry in the Netherlands, supply of
constructive and decorative materials to DIY chains and garden
centres throughout Europe and supply of speciality agri-products to
industry worldwide.

Through 15 main operating companies, Deli Maatschappij realizes
revenues of over Euro 1 billion with about 3,000 employees. Deli
Maatschappij seeks to be the leading supplier to professional buyers
in each market segment it serves.

http://www.deli-maatschappij.nl

http://www.acomo.net

http://www.creativevenue.nl

http://www.deli-maatschappij.nl

Rückfragehinweis:
CONTACT: For further information please contact: Amsterdam
CommoditiesN.V. (Acomo), Mr S.G.J. Holvoet, WTC, Beursplein 37, 8th
floor, Rotterdam,[email protected], Mobile: +31-654638036, Phone
+31-10-4051195 , Fax+31-10-4055094 , http://www.acomo.net ; Creative
Venue public relations ,Mr F. Witte, spokesman , Vliegtuigstraat 26 ,
1059 CL Amsterdam ,[email protected] , Mobile. +31-653736170 ,
Phone +31-20-4525225 ,Fax +31-20-4528650 ,
http://www.creativevenue.nl (see press room) ; N.V.Deli Maatschappij
, Mr. J.M.M. van de Winkel , Mobile: +31-653373135 ,
Tel.+31-10-402-17-00 , http://www.deli-maatschappij.nl; Image
materials:Various images of the tea and seeds trade are available in
digital formatand free to use. Please order those images at Creative
Venue, Mr. ThijnoKramer: E-mail: [email protected] , phone
+31-20-4525225

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