NETHERLANDS/UK: Vion nears MBO of UK pork business
Dutch food group Vion, which plans to quit the UK, is close to a deal with management over its UK pork business.
Vion, which last week announced it wanted to exit the UK, has been in talks with a number of interested parties on the future of its business in the country, where it employs 13,000 people at 38 sites.
The company said suitors included management and it has emerged a deal on its pork arm could be in the offing.
Vion, however, refused to comment on whether an MBO on that part of its UK business was close. "We still have a few enquiries and no deal has been signed," a spokesperson said. The spokesperson added: "We have a good level of interest in all elements. We're certainly hoping to give a progress report soon."
Vion entered the UK in the late 1990s. However, parts of its business in the UK have faced problems and the company has spent recent years reshaping the business.
In July, Vion announced it wanted to close its loss-making Hall's of Broxburn plant in Scotland amid over-capacity in the UK meat sector and "extremely challenging" trading conditions.
Vion has said it wants to focus on its "core" operations in the Netherlands and Germany, as well as developing its ingredient business.
The report provides a review and understanding of mergers and acquisitions (M&As), capital-raising, partnering deals, and agreements entered into by CPG companies during October 2012....
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