Oetker Considering Acquisitions to Grow Business

Germany's family-owned Oetker Group has acquisition targets in its sights after selling the Hamburg Süd shipping line to Danish giant Maersk for 3.7 billion euros ($4.28 billion) last year, the company's finance chief said on Tuesday.

The deal has created "options for action," Heino Schmidt said, adding that the firm already has its eyes on "desired candidates" for takeovers.

Oetker, a diversified group with interests in food, beverages, hotels and other sectors, is confident of matching 2017's sales volume in the foreseeable future via organic and acquisition-based growth, Schmidt told reporters.

Oetker's net financial assets stood at 3.6 billion euros at the end of 2017, according to company records.

(Reporting by Matthias Inverardi; Writing by Andreas Cremer)