Wed, 29 Aug 2012 | BUSINESS SALE
The sale of yoghurt brand Onken by its parent company Dr Oetker in 2011 helped the business to return to profit.
Accounts for the business, which is based in Leeds, show that the £30 million sale gave the company a much-needed boost, with the sale to Swiss food producer Emmi cited in a report filed at Companies House as the primary driver behind pizza manufacturer Dr Oetker's return to profit.
Emmi acquired the trade and assets of the brand and continued its specialised trade in the production of natural and fruit yoghurts.
While the sale helped Dr Oetker, the firm isn't quite in the clear yet. The UK arm of the German food group is still showing a £15 million decline in sales, although this still left it with a pre-tax profit of £19 million in the year to 31 December 2011, compared to a pre-tax loss of £5 million in the preceding year.
Peter Franks, Dr Oetker UK managing director, told Insider: "In very difficult trading conditions Dr Oetker has continued to invest heavily in its three core business areas – frozen pizza, home baking and food service.
"Despite the economic challenges all businesses are feeling, Dr Oetker recognises the importance of a longer term perspective – our goal is to be the No1 branded manufacturer in frozen pizza, home baking and in the food service areas we currently work within."
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