DUBAI, United Arab Emirates--(BUSINESS WIRE)--
Amira Nature Foods Ltd (the "Company") (ANFI), a global provider of packaged specialty rice, today announced that its rice bran oil product will now be sold through the Dohle Group which operates 102 hypermarkets branded "Hit," located mainly in the west of Germany, as well as 10 supermarkets in the Munich region.
Thomas Dennhardt, CEO of the Company’s German Subsidiary, Amira Basmati Rice GmbH, commented, “We are excited to begin this new relationship with the Dohle Group and further expand our retail distribution network in Germany. Hit is known for its high-quality hypermarket stores and commitment to the communities it serves, and we are proud to partner with them to provide their customers with our high-quality flagship German Brand Atry Rice Bran Oil.”
Rice bran oil is the oil extracted from the hard outer brown layer of rice called chaff (rice husk) and contains a higher percentage of vitamin E than olive oil. Rice bran oil is also rich in oryzanol, which blocks cholesterol absorption and helps lower LDL cholesterol levels and isn’t present in olive oil.
Initially, the Company will launch 1 SKU, Atry Rice Oil (500ml), that will be available at all 89 company owned Hit locations in Germany, with potential to expand the rollout of rice bran oil in America as well.
About Amira Nature Foods
Founded in 1915, Amira has evolved into a global provider of packaged specialty rice, with sales in over 40 countries today. Amira sells Basmati rice, premium long-grain rice grown only in certain regions of the Indian sub-continent, under their flagship Amira brand as well as under other third party brands. Amira sells its products primarily in emerging markets through a broad distribution network. Amira’s headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Germany, the United Kingdom, and the United States.
Dohle is a family-owned trading group and franchisor based in Siegburg, Germany. It operates 77 HIT stores primarily in the Rhineland and is a franchisor for a further 25 stores. The supermarkets are between 2,500 and 5,000m² in size, with an annual revenue of approx. €1.5bn. Dohle cooperates in purchasing and logistics with Rewe Group (3rd largest retailer in Germany, larger than Aldi). This cooperation allows Dohle to source their own products and have them delivered through Rewe logistics, but also that they have access to all Rewe own brands. Furthermore, Dohle owns the Hotel Vier Jahreszeiten (Hamburg).
Cautionary Note on Forward-Looking Statements
This release contains forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases that we or our members of management use such as “believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the global rice market, our expansion goals, the financial impact of new sales contracts on our revenue, our expectations regarding the successful efforts of our distribution partners, and other statements of management’s beliefs, intentions or goals. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our ability to perform our agreements with customers; our ability to recognize revenue from our contracts as planned; continued competitive pressures in the marketplace; our reliance on a few customers and distribution partners for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for growth; and the other risks and important considerations contained and identified in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.