FRANCE: Uniq completes Marie sale
Uniq has closed the EUR71.3m (US$105.2m) sale of its French prepared meals business Marie to poultry group LDC.
The deal comprises of EUR60m for 100% of Marie's equity and EUR11.3m in debt repayment.
The first GBP25m (US$40.1m) in proceeds will be used to pay down Uniq's debt, while the remainder will tackle the company's pension deficit and be used to "help develop" Uniq's other businesses, a spokesperson for the company told just-food.
In March, the UK convenience food group said that it was "evaluating options" for its businesses in France and Northern Europe. Uniq has indicated that it will sharpen its focus on its domestic operations in a bid to increase profitability.
The spokesperson declined to comment further on the company's plans for its Northern European businesses, stating that the market would be updated "when appropriate".
UK convenience food group Uniq returned to sales growth in the fourth-quarter as a result of new business won and said it delivered an operating performance in line with expectations....
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