BELGIUM: M&A boosts PinguinLutosa Q1 sales
Two significant acquisitions in the last year have boosted first-quarter sales at Belgium-based frozen and canned food group PinguinLutosa.
The company reported a 92% jump in sales to EUR210.2 for the three months to the end of June.
Revenue included the impact of the acquisitions of canned food firm Scana Noliko and the frozen-food assets of French co-op CECAB. PinguinLutosa completed both deals last year.
The company's largest division remains deep frozen vegetables and it said sales increased 26.5% without the contribution of the CECAB acquisition.
In the next two years, the acquired businesses from CECAB "will receive the highest priority", PinguinLutosa said.
It also warned of "further measures" to improve profits in the UK.
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- M&A Watch: Raisio should sell to private equity
- On the money: Hain expects continued organic gains
- Spotlight: What could be impact of Russia's ban?
- Russian government eases ban on food imports
- Pork Farms buys Kerry Group's pastry plants
- Kerry cools claim spreads move could hit jobs
- Dr Oetker to buy McCain North America pizza arm
- Nestle makes "major pledge" on animal welfare