Dutch food company Wessanen has announced that it has sold Gelderland Frischwarengesellschaft (GFG), part of its private label group, to privately-owned food group Balvers for an undisclosed amount.
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Wessanen said the divestiture of GFG, which produces private label bacon-based products, is another step in its strategy to focus on health and premium taste brands.
Annual sales of GFG amounted to approximately €25m (US$32.7m) in 2004. Wessanen said the proceeds will be fully paid in cash and the divesture will have a negligible impact on earnings per share.
