Europe’s largest turkey manufacturer, Bernard Matthews, said today (6 July) it had exchanged contracts to sell its German subsidiary, Bernard Matthews Oldenburg (BMO), to Germany’s Sprehe Gruppe.

Bernard Matthews said the proceeds from the sale would reduce group debt by EUR14m (US$15.5m). The UK group said the exchange of contracts for the deal was with Union Holdings & Co KG, which holds all the activities of Sprehe.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Sprehe was founded in 1987 and is a leading European supplier of fresh and deep-frozen meat products from multiple sites in Germany.

BMO, a wholly independent operation serving the German market with turkey and chicken products under the BM Oldenburg brand, has annual sales of some EUR45m.

Bernard Matthews chairman Alan Jamieson said: “The sale of this non-core business releases capital that will be useful to the UK operation as we continue to rebuild profitability and to invest in the UK’s leading turkey producer and only significant independent poultry brand. We look forward to a very busy Christmas as we put the turkey on more than three million of the nation’s tables.”

See Also:

Completion of the sale is expected to take place next month, subject to clearance by German antitrust authorities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Bernard Matthews said the BMO business “has flourished in the last few years but has also grown more independent of the UK Bernard Matthews business”. “It made strategic sense both for the UK group and for BMO to find a new owner who could bring the resource and strength in the German market that could exploit fully the BMO brand and operations.”

A spokesperson for PwC told just-food last month it had been appointed by Bernard Matthews’ majority owner, private-equity group Rutland Partners, to assess options for the business amidst reports that the owner was considering selling the business.

PwC told just-food today it is still “advising the sale” of the group “but at this stage will not be commenting further”.