03 June 2024
03 June 2024
It would be foolish of any incoming government to ignore the myriad issues affecting the food sector.
The company has also abandoned the sale of its Dairyworks cheese business, complete with a more downbeat EBITDA forecast.
The meat processor said it is also working on a new strategy to be revealed in the autumn.
At a JPMorgan fireside chat, Schneider said margins and market share are both improving as the “inflation wave” fades.
A total of 88 of 305 workers at the site will be affected by the move.
The business will be sold for around €5m to €6m ($5.4m to €6.5m).
Approximately 137 employees will be affected by the Longwood facility closure.
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GlobalData's latest report brings together multiple data sources to provide a comprehensive overview of the global prepared meals sector, analyzing data from 106 countries. The sector was valued at $133 billion in 2023 and is forecast to record a CAGR of 6.4% during 2023–28. The top five companies in the global prepared meals sector together accounted for a combined value share of 28.4% in 2023, with Nestlé leading the pack.
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