SOUTH AFRICA: Spring Valley sale sees Bakkavor's exit from country
Bakkavor has announced its exit from South Africa to focus on its core markets
UK fresh prepared foods manufacturer Bakkavor has announced its exit from South Africa with the sale of its Spring Valley Foods business.
The company has sold the business to the In2food Group, a food provider in South Africa and Brazil.
All employees and assets will transfer over to the new owner as part of the deal.
The deal, struck for an undisclosed sum, is the latest disposal by Bakkavor.
just-food last month reported on the sale of Bakkavor's Czech ready meals unit Heli Food Fresh.
Meanwhile, in May, Bakkavor closed a plant in Canada just two years after opening the facility.
The company has confirmed it is continuing to focus on its core markets of US, Asia and the UK.
CEO Agust Gudmundsson said: "The disposal reflects our continued focus on the core markets which are key to our long-term growth strategy."
Sale of Spring Valley Foods, South Africa
Bakkavor, the UK’s leading fresh prepared foods manufacturer, today announces it has completed the sale of Spring Valley Foods, its South African prepared fruit business, to In2food Group, a provider of convenient food solutions in South Africa and Brazil. As part of the sale all employees and assets transfer to the new owner.
Agust Gudmundsson, Group Chief Executive Officer, said: "The disposal reflects our continued focus on the core markets which are key to our long-term growth strategy”.
Original source: Bakkavor
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