Swiss food group Orior has announced that it will acquire the Culinor Food Group to strengthen its presence in the European market.
Operating out of Benelux, Culinor is a major producer of ready-made meals and meal components serving retailers and food service providers. It revenues amount to nearly €88m.
The acquisition is expected to take effect from end of August 2016.
Orior CEO Daniel Lutz said: “This acquisition extends our leadership position in our core business of premium fresh convenience products beyond our domestic market and diversifies our existing target markets and sales channels. That, in turn, creates additional growth potential and new inspiration for innovation.”
The acquisition will help Orior to create a strong platform from which it will be able to address the entire European market.
Currently, Culinor has production facilities in Destelbergen , Gent, Olen and Herselt as well as a logistics centre located in Destelbergen.
Following the completion of the acquisition, Culinor will operate as an autonomous competence centre within Orior.
Culinor CEO Filip De Spiegeleire said: “Orior is the perfect fit – joining forces will make Culinor’s future brighter.”
Its products range from classic local cuisine such as stamppot and vol-au-vent to meat, fish and oven entrees and stews, soups and sauces.
The company’s portfolio also includes innovative convenience concepts such as the to-go line Meal in the Box or the ready-made Wok & Dinner Mix meal kits.
In July, UK’s fresh prepared foods manufacturer Bakkavor Group agreed to sell its Belgian fresh prepared food business, Vaco, to Culinor for undisclosed sum.
Orior said: “Culinor Food Group, with its large portfolio of high-quality products, its specialisation on chilled prepared meals and ready-made meal components, and agile structures, is one of the foremost players in the highly innovative market of fresh convenience food.”
