Dutch food group Vion has sold off its convenience retail segment of its business for an undisclosed sum.
The firm said it has made a decision to concentrate on its core activities – cattle and pig slaughter and convenience food service.
The divestment involves seven production sites, 29 branches, nine fresh meat centres and three meat markets. Total turnover of this segment is EU435m (US$732.6m).
In a statement issued by Vion, the firm said: “the buyers are convinced that the full potential of the German Convenience Retail segment can be developed under the new owner and that all conditions have been fulfilled to enable the sustainable growth of the company in the German markets of convenience and sausage products.
“This segment was awarded to a buyer with many years of experience in the German and European food industry.
“The new owners’ intention and ability to competently and professionally continue operations was also crucial to Vion’s choice,” it added.