Wessanen has confirmed it is preparing for the sale of its frozen food businesses through the move to take full ownership of Favory Convenience Food.
The Dutch food group announced this morning (23 July) it will acquire the 35.9% stake it did not already hold in Favory from Rabo Capital for EUR5m (US$6m).
Go deeper with GlobalData
Wessanen said the business would benefit from greater integration and alignment with its other frozen food unit, Beckers.
The company has previously indicated it intends to focus on its organic food business in Europe and that its frozen operations are considered “non-core”.
A spokesperson for Wessanen told just-food the Favory deal would allow the group to “maximise” the value of its frozen arm in preparation for an eventual sale.
See Also:
“We will first focus on the execution of the strategy and maximise shareholder value and in time we will look at a potential divestment,” the spokesperson said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWessanen has “nothing firm yet” and the group is yet to determine a timetable for the sale process, the spokesperson added.
