Wessanen, the Dutch food group, has successfully offloaded its German frozen meat business Karl Kemper.
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The company said the business had been sold to a group owned by funds managed by BPE Private Equity in Hamburg and members of the Karl Kemper management for an undisclosed sum. The proceeds will be fully paid in cash.
Karl Kemper produces frozen meat, poultry and vegetarian meal components for the German out-of-home channel.
“These activities demonstrate virtually no synergies with our frozen snack activities in the Benelux,” a statement for Wessanen said.
Karl Kemper generated revenues of around EUR28m over 2008, and a break-even operating result.
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By GlobalData“Going forward, Wessanen’s Frozen Foods segment will focus on improving its position in the Benelux market,” Wessanen added.
As reported on these pages earlier this week, Wessanen is also looking to sell its Righi business, as part of an ongoing plan to focus on speciality and organic food in Europe. It also wants to offload its US natural and organic food group Tree of Life.
Tree of Life distributes lines from Hain Celestial, Kraft Foods and Dean Foods’ Horizon Organic alongside its own namesake products.
