Thu, 13 Dec 2012 | MBO/MBI
Dutch-based Vion has agreed a management buy-out for the UK pork side of its operations.
The MBO is being led by Seamus Carr, the managing director. Endless, a private equity firm, is backing the deal.
Vion announced its intentions to selll the UK side of its food operations last month. The sale is part of a strategic decision to focus on its core business in the Netherlands and Germany.
Mr Carr commented: “Vion's decision to sell its UK business naturally caused a degree of uncertainty amongst staff, suppliers and customers.
"Therefore, I'm very pleased that we have quickly been able to agree a deal for the pork business which secures the future for our staff, our suppliers and gives our customers a seamless transition.”
He added that the firm's new owners are planning to “maintain the excellent levels of service and product quality which have helped us secure orders from all the major supermarkets and then to build upon the opportunities in the marketplace to grow the business”.
Discussions are said to be ongoing with a number of prospective purchasers for Vion's other UK business units for poultry and red meat.
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