Belgium-based fruit and veg supplier Univeg has announced it is demerging six of its production and export divisions.
The six units: Alara in Turkey, Univeg South Africa, Univeg Costa Rica, Expofrut Brazil in Brazil, Univeg Uruguay and Fai in Suriname, will form a new company called The Fruit Farm Group.
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The aim of the two businesses is that they will operate different financing structures and each will be able to run at its own pace.
In an email to just-food, a spokesperson said: “It was decided as we see this as a win-win transaction for Univeg and The Fruit Farm Group. It will increase Univeg’s equity and reduces its debt and at the same time it provides growth opportunities for The Fruit Farm Group”.
The shareholders for the new company will be the same as those for Univeg; the Deprez Family, a consortium of European and South African families and the management.
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