Dutch food group Wessanen said today (22 April) that it will start a review on whether to exit all North American businesses and focus on Europe in a bid to streamline its business.
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The company said it wants to focus strategically on natural, organic and speciality food products in Europe through organic growth and acquisitions.
Wessanen previously announced a review of the business in February to sell its US based drinks company American Beverage Corporation.
The company said it will now start an investigation into exiting all of its other North American businesses, consisting of the distribution business Tree of Life North America, and the branded businesses Panos Brands and Liberty Richter.
“In the coming months, Wessanen will regroup and further focus these activities, and expects to provide more detail on its strategy later this year when it has concluded a strategic review of its European business,” the company said.
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By GlobalDataIn light of its strategic focus, Wessanen said it will split its European reporting segments into two to comprise of Wessanen Europe (natural, organic and specialty food products) and frozen foods.
Wessanen will announce its first quarter results on 5 May ahead of the original 13 May date.
