POLAND: HKScan sells shares in Polish JV in Danish Crown
Saturn Nordic Holding holds 100% of the shares of Sokolów, which has been HKScan's joint venture in Poland. HKScan will keep its wholly-owned subsidiary, HKScan Poland, located in Swinoujscie, Poland.
Danish Crown is paying HKScan EUR180m to take sole control of a venture the two sides set up in 2004.
HKScan said Sokolów had been "profitable and growing, benefiting both parties during the co-operation". In 2013, HKScan's 50% share of Sokolów's net sales was EUR 375m. "The good financial performance and strong growth of Sokolów has impacted positively the value of the business," HKScan said.
However, HKScan president and CEO Hannu Kottonen added: "The deal is positive for all parties. For HKScan, the divestment enables the group to accelerate setting an even stronger focus on our other home markets.
"We continue building HKScan as one strong Nordic Group focusing on branded meat business. The deal resulting in strong balance sheet and lower net financial costs will improve our prerequisites for speeding-up the strategic work to invest in our strong brand offering as well as on related production facilities and technologies."
"HKScan Corporation : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company ov...
Meat, Fish & Poultry in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contai...
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global meat market during February 2014....
Synopsis The report provides a review of the latest news and key events in the global meat market during March 2014. Summary Using this report, marketers will effectively gain an insight into the lat...
- On the move: What's in store from Tesco's new CEO?
- The just-food interview: Premier Foods CEO Darby
- On the money: Can Premier build H2 sales momentum?
- Focus: Lindt plays safe with Russell Stover buy
- Interview: Bell hits out at German cartel ruling
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Premier launches Oxo pots range in UK
- Universal Robina to buy biscuit firm Griffin's