Dutch meat business Vion Food Group is to sell its cattle marketing operations in Germany to ZNVG.
Vion said the deal for the Neumünster operation with ZNVG, described as the “largest cattle and pig trading organisation” in Germany, based in Schleswig-Holstein, is expected to close min March.
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Financial terms were not disclosed.
Vion said in a statement that the Neumünster site is part of its subsidiary Vion Zucht-und Nutzvieh (ZuN), which will remain with the Dutch group.
Nine employees based at Neumünster, out of a total of around 50 at ZuN, will transfer to the buyer, Vion added.
The sale is part of Vion‘s “strategic realignment of its international activities”, which previously has been disclosed as a focus on the Benelux markets.
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By GlobalDataIn August, Vion sold its stake in two German sites in Bavaria – Vilshofen and Landshut – to meat business Erzeugergemeinschaft Südbayern.
Philippe Thomas, the COO in Germany for Vion, said: “We are pleased to have found a reliable and trustworthy partner in ZNVG to ensure the future of our employees and their close collaboration with our independent shop stewards.”
ZNVG managing director Astrid Seidel added that the deal “enhances” its “portfolio for livestock collection and marketing in Schleswig-Holstein”.
Vion had previously transferred pig collection and marketing to ZNVG at the start of 2022.
Headquartered in Boxtel, Vion began 2024 by scaling back its operations in Germany by shutting down one facility and arranging the sale of three others in January.
In June, the company announced its full exit from the German market.
Vion reported a loss in 2023 due to impairments from its strategic changes, with a negative €89.7m ($97.1m) result, compared to a €108m profit the previous year.
Despite the losses, Vion achieved €90m in savings in 2023 through the company’s strategic transformation programme.
Issuing the results, the company said: “The successful Change that Matters programme, which began in 2023, will be completed in the months to come, with the full impact expected by 2025. The costs associated with this transformation have impacted the company’s net results.”
