NETHERLANDS: Vion divests Oerlemans Foods to Baltussen Holding
The deal is not expected to affect employees at Oerlemans Foods
Dutch food group Vion has entered into a deal to sell its frozen vegetables, fruit and potato products firm Oerlemans Foods to fresh vegetables producer Baltussen Holding.
The struggling meat processor, which this month finalised a deal for an MBO of its UK pork arm, said the sale is a consequence of its revised strategy announced in June last year. The strategy, aimed at divesting non-core businesses and implementing investments in a "more vigorous manner" has seen the firm cut around 340 jobs in the Netherlands and around 290 in Germany.
Financial details of the transaction were not disclosed.
Baltussen Holding will be supported in the deal by its strategic partner Rijko. Baltussen specialises in the production and processing of fresh vegetables, while Rijko is involved in the sourcing of these raw materials.
The transaction is subject to the approval of the authorised competition authorities in Poland and the Ukraine. It is not expected to affect employees at Oerlemans Foods.
VION to sell Oerlemans Foods
11 | JAN | 2013
Today, VION N.V. announced that it has entered into an agreement for the intended sale of its company Oerlemans Foods to Baltussen Holding B.V. The latter will be supported by its strategic partner Rijko B.V. Baltussen specialises in the production and processing of fresh vegetables, Rijko in the sourcing of these raw materials.
Oerlemans Foods is a manufacturer of fresh frozen vegetables, fruit and potato products. The sale is a consequence of the revised strategy VION announced on 15 June 2012 which entails various measures and investments being implemented and made in an accelerated, more vigorous manner. VION companies that are no longer part of the company's core activities are to be divested. Oerlemans Foods occupied an independent position within the VION Group. In this context, VION already announced the sale of Banner Pharmacaps on 29 October 2012. The sale is not expected to affect labour opportunity at Oerlemans Foods. Advice has been requested from the Oerlemans Works Council concerning the intended sale. The transaction is also subject to the approval of the authorised competition authorities in Poland and the Ukraine.
Oerlemans Foods is a specialised manufacturer and supplier of fresh frozen vegetables, fruit and potato products. With a range of over 1,000 products and the brands Oerlemans, Keizer, Bio+ and Bauer, Oerlemans Foods focuses on the international foodservice, retail and industrial markets. The head office is located in Venlo NL and the company has production plants in the Netherlands and Poland.
Original source: Vion Food Group
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