Bakkavor to sell Belgian food business Vaco

Fresh prepared food producer Bakkavor has agreed to sell its Belgium-based company Vaco to Culinor Food Group.

Financial details of the deal have not been divulged by both the companies.

The deal is expected to be completed this year.

Culinor produces fresh prepared ready meals for retail and food service operators across Belgium.

Bakkavor Group CEO Agust Gudmundsson said: “This sale marks further progress for the group as we focus on our core strategic growth markets of the UK, US and Asia.”

Bakkavor was founded by Agust and Lydur Gudmundsson in Iceland to manufacture and export fish products..

This year, the company completed three decades in fresh prepared food business.

The company has 18,000 people in its global operations, and produces more than 5,000 products in 18 categories.

In the UK, Bakkavor supplies its products to leading grocery retailers such as Tesco, Marks & Spencer, Sainsbury’s, Waitrose, Asda and Morrisons.

These retailers sell the products to consumers under their own brands.

Bakkavor operates in the US, Asian and Continental European markets, where it supplies goods to retail and food service establishments.