Dutch food firm Wessanen has taken full ownership of Favory Convenience Food by purchasing an additional 35.9%stake from Rabo Capital for EUR5m($6m).
Wessanen noted that this purchase follows strategic review of its frozen foods business,which includes the company's convenience food division,Beckers.
The company plans to initiate further alignment and process integration between Favory and Beckers.According to Wessanen,its frozen foods business is non-core and plans to divest it in the future.
Wessanen frozen business currently consists of Beckers Benelux and Favory Convenience Foods,and it owns production plants in Katwijk,Bocholt and Deurne.
The business produces Beckers and Bicky brand frozen snack products as well as private label products for sale in Belgium,the Netherlands,Luxembourgand,and other markets.In 2011 it posted revenue of€113m.
