BELGIUM: PinguinLutosa receives bids for potato unit
Belgian vegetable supplier PinguinLutosa has received takeover offers for its potato division.
In a statement today (4 September) the group said it has received "unsollicited non-binding" offers for the acquisition of all shares of the potato unit Lutosa group.
"The board of directors and the management will carefully consider the non-binding offers and explore the merits and risks for all PinguinLutosa stakeholders of such offers," the company said. "Further announcements will be made if and when appropriate."
In July, PinguinLutosa, which operates three divisions: vegetables, ready-to-use products and potato specialities, said it was looking to bring its production costs in the UK in line with those from its operations in Europe.
CEO Hein Deprez told just-food he wanted the cost per tonne of its produce in the UK to be the same as in other facilities across Europe, including Belgium, Poland and Hungary. In recent years, the company has closed several facilities in the UK.
PinguinLutosa has reported a strong rise in sales for the first nine months of its fiscal year, benefiting from the knock-on effect of acquisitions and higher volumes....
- Unilever must "speed" response to consumer trends
- Premier Foods CEO expects UK supermarket rebound
- Briefing: The risks and rewards of e-tail in China
- Why US diet guidelines should consider environment
- Emerging markets online: India's food retail scene
- Tootsie Roll CEO Melvin Gordon dies at 95
- McCain to close Grobbendonk plant in Belgium
- Food industry news of week: Unilever, PepsiCo
- Chobani launches Tots infant range
- Premier Foods hails "improving" sales trends
- The Sugar Backlash and its Effects on Global Consumer Markets
- 10 Key Trends in Food, Health and Nutrition 2015
- The Future of Retailing in the UK to 2017
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- Meat Substitutes Market - Global Trends, Forecasts up to 2019