German meat processor Nolke Group has announced the sale of its subsidiary Heinrich Nolke Gmbh and Co. to local peer Zur Muhlen Gruppe for an undisclosed sum.
Henrich Nolke is known for its sausage production and boasts brands including Gutfried.
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Frank Nölke, CEO of Nolke Group, said the sale stemmed from an “increasingly difficult market environment,” and would contribute to “the security of the company”.
Zur Muhlen Gruppe, which specialises in sausage production, was said to be Nolke’s “preferred interlocutor” due to its market position and established brands, the seller said.
Competition approval of the sale is expected to be complete in January.
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By GlobalData
