UK convenience group Uniq has sold its Dutch businesses to Gilde Equity Management for an enterprise value of GBP18m (US$26.8m).
The divestment furthers Uniq’s goal to become a UK-focused business. The company previously sold its other continental operations in France, Germany and Poland.
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“Subject to shareholder, works council and competition approval, today’s (17 November) announcement will leave Uniq operating solely in the UK,” a spokesperson for the group emphasised.
“It means they will be able to focus on potential opportunities here, rather than dividing management’s attention between five different markets. They want to develop what they’ve got in the UK,” the spokesperson told just-food.
Proceeds from the sale, which will total approximately GBP2m after costs, will be used to reduce debt, address the group’s pension deficit and for reinvestment in the business.
Uniq’s Netherlands businesses, which include the Johma salad brand and Meal Solutions sandwich unit, reported an operating loss of EUR0.5m for the year to 31 December.
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