Vion signs deal to divest Oerlemans Foods to H2 Equity Partners
summary：Vion has agreed to divest its frozen food business, Oerlemans Foods, to investment company H2 Equity Partners....
Vion has agreed
to divest its frozen food business, Oerlemans Foods, to investment company H2 Equity Partners.Oerlemans Foods, which produces frozen vegetables, fruit and potato products, has a range of over 1,000 products sold under the Oerlemans, Keizer, Bio+ and Bauer brands to international foodservice, retail and industrial markets.
Headquartered in Venlo, the company has production plants in the Netherlands and Poland. It has a turnover of €135m and employs 740 staff.
The sale is part of Vion's revised strategy to dispose the companies that are no longer part of its core activities.
H2 Equity Partners stated that it is looking forward to further reinforce Oerlemans' position on the basis of its Dutch and Polish operations.
The parties have not disclosed the terms of the transaction, and expect to close the deal during the second quarter of 2014, following the receipt of required regulatory approvals.
Vion Food processes pork and beef products in the Netherlands and Germany and supplies to retail, industrial and food service clients in its home markets and the rest of the world.