Finnish food group Raisio has announced that it is considering the divestment of its feed business, as it aims to focus more on its portfolio of healthy food products.
The company said today that the move would be part of its strategic plans to renew the group's structure, and has started negotiations regarding the sale with several players.
Raisio also said that it will start statutory cooperation negotiations next week, concerning the 155 employees that would be affected by possible terminations, combinations and restructuring of functions.
The group added that it aims to complete these negotiations in March.
Restructuring Plans
In December, Raisio announced that it was selling its confectionery operations in the UK and the Czech Republic to Valeo Foods in a €100 million deal.
Raisio said that it was divesting the business, which includes brands such as Poppets, Fox’s, Just and Pedro, in a bid to focus on healthier products.
"The divestment of the confectionery business is an important strategic step for Raisio towards a responsible forerunner focusing on healthy foods,” said Raisio president and CEO Pekka Kuusniemi.
“Together with our already strong balance sheet, the proceeds from the deal enable extensive acquisitions that strategically fit our core business.”
The company, which produces the Benecol range of products, reported a 6% sales increase in the third quarter of the year, and announced plans to grow its business through new acquisitions in the future.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
