BELGIUM: Acquisitions prompt PinguinLutosa revamp
Belgium-based frozen foods group PinguinLutosa has shaken up its senior management to a run a business expanded by acquisitions.
PinguinLutosa today (20 July) confirmed it had completed the acquisition of canned produce maker Scana Noliko. The company has also secured approval from competition authorities in France for its purchase of the deep frozen activities of local co-op CECAB
With the expansion of the group, PinguinLutosa announced plans to adapt its management structure to "better anticipate new opportunities for the group".
It has appointed key shareholder Hein Deprez as CEO. Current chief executive Herwig Dejonghe will become COO and will be responsible for the company's "business and strategic projects".
PinguinLutosa has also been divided into three divisions - deep frozen vegetables, potatoes and canned.
Each division will be managed by a managing director. Current Lutosa general manager Erwin Wuyts will be general manager of the potato division. Dominiek Stinckens, currently general manager of Scana Noliko, will become general manager of the canned division.
The company is recruiting a managing director of the deep-frozen vegetable division, with Dejonghe to manage the business in the interim.
Steven D'haene will remain CFO of the group while Hans Luts will focus on the integration of the acquired businesses and optimise synergies.
PinguinLutosa said market conditions have been difficult during the first half of the year, with circumstances resulting in an unstable supply in production. Looking forward, PinguinLutosa plans to develop "innovative customer-friendly and profitable products. Aside from integrating the two companies, its focus will be on improving profitability, it said.
Belgian food group PinguinLutosa has reported an increase in sales over the first nine months of 2011, boosted by recent acquisitions....
- Rise of prepared foods in US grocers - analysis
- How are brands organising for e-commerce?
- Hershey results, outlook, M&A - the top takeaways
- Free-from firm BFree Foods - bitesize interview
- More M&A likely at McCormick - editor's viewpoint
- Hain Celestial eyes disposals, forms venture unit
- Kellogg launches Special K breakfast quiches
- Dole faces DoJ probe over listeria outbreak
- Amplify Snack Brands acquires Boundless Nutrition
- Murray Goulburn accused of "misleading" the market