French food group Fleury Michon has completed the sale of its meal tray business to Kumo, a Japanese-inspired convenience food and catering brand.
The meal tray business, which is located in Île-de-France, represented around 2% of the group’s turnover prior to the sale, Fleury Michon noted in a statement.
Annual Turnover
The meal tray business had an annual turnover of approximately €13 million and reported a negative operating profit.
Fleury Michon originally announced plans to offload the business last November.
‘This transaction marks Fleury Michon’s desire to focus its development on its core business in GMS and on the development of airline catering activities, in accordance with its strategy deployed since 2021,’ the company noted.
Marketing And Production Activities
The sale includes the marketing and production activities associated with the meal tray business, as well as the associated industrial assets. The exit is expected to negatively impact the net result of the financial year, at an estimated amount of €3.5 million.
The full financial implications of the sale on Fleury Michon’s operations will be revealed in the company’s annual results, which are scheduled to be published in April.
Fleury Michon, which is listed on the Euronext Growth Paris Index, is an independent, family-owned French food company that was founded in 1905.
