Dutch food group Vion has entered into a deal to sell its frozen vegetables, fruit and potato products firm Oerlemans Foods to fresh vegetables producer Baltussen Holding.
The struggling meat processor, which this month finalised a deal for an MBO of its UK pork arm, said the sale is a consequence of its revised strategy announced in June last year. The strategy, aimed at divesting non-core businesses and implementing investments in a "more vigorous manner" has seen the firm cut around 340 jobs in the Netherlands and around 290 in Germany.
Financial details of the transaction were not disclosed.
Baltussen Holding will be supported in the deal by its strategic partner Rijko. Baltussen specialises in the production and processing of fresh vegetables, while Rijko is involved in the sourcing of these raw materials.
The transaction is subject to the approval of the authorised competition authorities in Poland and the Ukraine. It is not expected to affect employees at Oerlemans Foods.
