Vion to sell frozen food unit to H2 Equity Partners

Dutch food company Vion has entered into an agreement to sell Oerlemans Foods, a manufacturer of fresh frozen vegetables, fruit and potato products, to H2 Equity Partners for an undisclosed sum.

The deal is in line with Vion’s revised strategy to divest businesses that are not part of the company’s core activities.

Based in Venlo, Oerlemans Foods runs production plants in the Netherlands and Poland, and is considered to have an independent position within the Vion Group.

The company has revenues of around €135m and a workforce of 740.

It caters to international foodservice, retail and industrial segments and offers more than 1,000 products under the Oerlemans, Keizer, Bio+ and Bauer names.

Vion has already notified Oerlemans Foods’ Works Council over the proposed sale.

Subject to certain statutory approvals, the transaction is expected to close during the second quarter of this year.

In January 2013, Vion reached an agreement with the Netherlands-based Baltussen to sell the Oerlemans Foods unit; however, the deal was cancelled and Vion retained the business.

Vion Food, which employs approximately 13,000 people, focuses on the pork and beef markets in the Netherlands and Germany, and has a turnover of €6.5bn.

H2 Equity Partners is an independent investment firm that invests in medium-sized companies in Benelux, Germany and UK.