Dutch food group Vion has said it is evaluating plans for a management buyout of its Welsh Country Foods lamb processing business.

The business was at risk of closure earlier this year after it lost its lamb supply contract with Asda. The UK retailer was a “key customer”, accounting for around 50% of the site’s business.

A potential management buyout, could save up to 350 jobs at the site.

A spokesperson for Vion said: “We can confirm that discussions continue with members of the management at Welsh Country Foods about a possible management buy-out, and also with several other interested parties. This is consistent with our stated commitment to investigate all options for the future of the site. While these discussions are taking place, it would be inappropriate to make further comment.”

The plant was purchased by Vion August 2008 when it acquired the Grampian Country Food Group.

In December last year, Vion finalised a deal for an MBO of its UK pork arm, which supplies private-label pork products to retailers in the country.

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By GlobalData