Rieber & Søn, the Norway-based food group, is to sell its Dutch frozen onion rings business to local firm Subzero Frozen Produce Holding.
The deal, announced today (1 September) for an undisclosed sum, comes as Rieber & Søn looks to offload its Dutch unit, Rieber Kruiningen.
The Norwegian group said the sale would allow the group to focus on producing crispy fried onion rings and help boost profits at Dutch subsidiary Rieber Holland.
Rieber & Søn, which last month booked rising half-year profits, said the group would incur a loss of EUR1.8m (US$2.6m) from the sale. The charge will be booked in the group’s third-quarter numbers.