French gourmet grocer Fauchon has decided to sell its ready-made meals business line, French newspaper La Tribune reports.
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This activity includes Fauchon’s own range of ready-made meals and also those acquired as part of the purchase of high-quality caterers, Flo Prestige, in August 2002.
The report adds that Fleury Michon is among the possible buyers. Fauchon has only confirmed that it is “in talks on relinquishing non-strategic assets”. In the spring, the company sold its Brittany-based biscuit maker Le Drean.
Under new ownership since January 2004, Fauchon made a consolidated loss of €11.5m (US$14.1m) for the financial year ending 31 March on a turnover of €163m.
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By GlobalData
