Danish bakery group Lantmännen Unibake is taking a step back from its ventures in Asia as it looks to focus on Europe and North America.
The company, a unit of the farmer-owned food group Lantmännen is selling its stakes in sales companies in Japan and South Korea – although the business the deals did not mean it was quitting the region.
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In Japan, Lantmännen Unibake has sold 51% of its Japanese sales company to frozen food firm Nichirei Foods.
Lantmännen said Nichirei Foods had “ambitious plans” for the Danish group’s “frozen bread concepts” and expect to double turnover within three years.
In South Korea, Lantmännen Unibake has sold its Korean sales company to the local management team, who will continue the business as the sole agent of Unibake’s products.
Financial details were not disclosed.
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“We decided that it was time to take the next step in the development of our activities in Asia, and with the new business setup in Japan and Korea we have strengthened our position,” said CEO Bent Pultz Larsen.
“Our experience from Asia has been valuable and contributed to increasing our competence. For instance the Japanese customers’ very strict requirements to food safety have brought us to the very top of the bread industry as regards food safety. We have implemented the Japanese standards in most of our bakeries and in this way moved ahead of the competitors.”
