Dutch meat group Vion has announced it is to sell frozen food arm Oerlemans Foods to investment company H2 Equity Partners for an undisclosed sum.
In a joint statement issued on Friday (7 March), it was said the sale is expected to be complete during the second quarter of the year.
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At the beginning of last year, Vion struck a deal to sell the business to Dutch private-label group Baltussen Holding.
A spokesperson for Vion said the company “did not reach an agreement with Baltussen to close the deal”. He told just-food today: “We decided and took the time to look for an alternative buyer.”
Oerlemans has a turnover of approximately EUR135m (US$187m) and employs 740 staff. Vion said the sale is a consequence of its “revised strategy”.
“Companies that are no longer part of the core activities are to be divested,” the statement read. Oerlemans is a manufacturer and supplier of frozen fresh vegetables, fruit and potato products.
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By GlobalDataThe company, which also withdrew from the UK in 2013, has focused on lowering its cost base through manufacturing efficiencies.
On Thursday, Vion announced the closure of the loss-making Lingen pork site in Germany.
