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Tag "disposal"

Premier Foods Disposing of Sweet Spreads and Jellies Business to Hain Celestial

    Premier Foods Disposing of Sweet Spreads and Jellies Business to Hain Celestial

Premier Foods has agreed to sell its sweet spreads and jellies business, including the Hartley’s, Robertson’s, Frank Cooper, Keiller, Gales and Sun-Pat brands, to The Hain Celestial Group for a cash and share consideration of £200 million. The sale, which is subject to approval by Premier Foods’ shareholders and consent from Premier Foods’ banking syndicate, […]

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Unilever to Sell Frozen Meals Business in North America

    Unilever to Sell Frozen Meals Business in North America

Unilever has agreed to sell its North America frozen meals business to ConAgra Foods for a total cash consideration of $265 million (Eur216 million). Unilever’s North America frozen meals business consists of a full range of premium, multi-serve frozen entrees and appetizers under the well-known Bertolli and PF Chang’s brand names.
The transaction, subject to regulatory […]

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Pernod Ricard Selling Danish and German Brands For €103 Million

    Pernod Ricard Selling Danish and German Brands For €103 Million

Pernod Ricard is disposing of its Danish aquavit brands Aalborg and Brøndums, the German brand Malteserkreuz Aquavit and the Danish bitter brand Gammel Dansk to Arcus-Gruppen, a leading player in the production, sale and distribution of wine and spirits in the Nordic region. The Eur103 million deal also includes the sale of the Aalborg production […]

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Dairy Crest to Sell St Hubert For €430 Million

    Dairy Crest to Sell St Hubert For €430 Million

Dairy Crest, the UK’s leading dairy foods company, has received a binding offer from Montagu Private Equity to acquire St Hubert, the French branded spreads business, for a cash consideration of Eur430 million (£3441 million).
The transaction follows Dairy Crest’s announcement in March 2012 of a strategic review of St Hubert. During the review a range […]

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Premier Foods to Dispose of Vinegar and Sour Pickles Business

    Premier Foods to Dispose of Vinegar and Sour Pickles Business

Premier Foods is selling its vinegar and sour pickles business, including the Sarson’s, Haywards and Dufrais brands, to Japan-based Mizkan, for a cash consideration of £41 million. The sale is expected to complete by the end of July 2012.
The disposal represents a further step in Premier Foods’ strategy to prioritise investment behind its eight ‘power […]

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Heineken to Divest Minority Stake in Dominican Republic Brewery

    Heineken to Divest Minority Stake in Dominican Republic Brewery

Heineken is selling its 9.3% minority shareholding in Cervecería Nacional Dominicana in theDominican Republicfor $237 million to AmBev Brasil, part of Anheuser-Busch InBev. Closing of the transaction is expected to take place in the second quarter of 2012 and subsequently Heineken expects to realise a post-tax exceptional book gain of approximately Eur130 million.

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Permira Considers Disposal of Birds Eye Iglo

    Permira Considers Disposal of Birds Eye Iglo

Private equity firm Permira is considering the sale of its Birds Eye Iglo European branded frozen food business after receiving a number of approaches. Permira is reported to have appointed Credit Suisse to manage a sales process.
Birds Eye Iglo produces fish, vegetables, poultry and ready meals, including a number of iconic products such as fish […]

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Lion Capital Decides Against Findus Nordic Disposal

    Lion Capital Decides Against Findus Nordic Disposal

UK private equity firm Lion Capital is reported to have decided against disposing of the Nordic unit of its Findus frozen foods group. The Nordic business attracted a number of suitors, including Nestle and Norwegian group Orkla, but no agreement was reached on price.
The sale was expected to raise between Eur700 million and Eur800 million […]

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United Spirits Considering Disposal of Whyte & Mackay Stake

    United Spirits Considering Disposal of Whyte & Mackay Stake

United Spirits, which is part of Indian conglomerate UB Group, is considering disposing of a 49% stake in its Scotch whisky subsidiary Whyte & Mackay to help reduce debt. Controlled by Indian billionaire Vijay Mallya UB Group, which owns the troubled Kingfisher Airlines business, has debts of $4 billion. United Spirits would retain its 51% […]

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Premier Foods Completes Disposal of Brookes Avana

    Premier Foods Completes Disposal of Brookes Avana

Premier Foods has completed the disposal of its loss-making Brookes Avana business, comprising RF Brookes chilled foods and Avana Bakeries, to 2 Sisters Food Group for £30 million in cash. Brookes Avana supplies chilled convenience products, including ready meals, accompaniments, chilled pizza and pies. Avana is one of the UK’s leading suppliers of high quality […]

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Premier Foods Sells Four Irish Brands For €41 Million

    Premier Foods Sells Four Irish Brands For €41 Million

Premier Foods is selling its four Irish brands comprising Chivers, Gateaux, McDonnells and the Erin licence to The Boyne Valley Group for a gross cash consideration of €41.4 million. The disposal represents a further step in Premier’s strategy to focus investment behind its eight ‘power brands’ and follows its recent announcement to sell its chilled […]

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Sara Lee Close to Disposing of French Bakery Unit

    Sara Lee Close to Disposing of French Bakery Unit

Sara Lee is reported to be in negotiations to sell Eurodough, its French baked goods unit, as part of the US-based group’s strategy to divest its international bakery businesses. With current EBITDA of about Eur15 million, Eurodough was acquired by Sara Lee in 2001. The business is estimated to be worth between Eur100 million and […]

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Unilever Sells North American Food Brands

    Unilever Sells North American Food Brands

Unilever has agreed to sell its Culver Specialty Brands division, in the US and Canada for $325 million (Eur230 million) in cash to B&G Foods. The business being sold includes Mrs Dash salt-free branded seasoning blends, Molly McButter branded flavoured sprinkles, Sugar Twin branded sugar substitute, Bakers Joy branded baking spray and Static Guard branded […]

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Sara Lee to Sell Fresh Bakery Business in Spain and Portugal to Grupo Bimbo

    Sara Lee to Sell Fresh Bakery Business in Spain and Portugal to Grupo Bimbo

Sara Lee has agreed to sell its fresh bakery businesses in Spain and Portugal to Mexico’s Grupo Bimbo for €115 million ($154 million) in cash. The deal includes all Sara Lee fresh bakery brands in Spain and Portugal as well as seven manufacturing facilities. The transaction, which is subject to customary closing conditions and regulatory […]

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Bakkavor Group to Sell French Business

    Bakkavor Group to Sell French Business

Bakkavor Group, the UK convenience food manufacturer, is selling Bakkavor Traiteur, a non-core, fish spreads business based in France, to Alfesca, a leading European producer and supplier of convenience, fine seafood and premium products to retailers and food-service providers. The sale is for an undisclosed consideration.
 

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Fray Bentos Put Up For Sale

    Fray Bentos Put Up For Sale

Premier Foods, the UK’s largest domestic food processor, and Princes, the British food and drink company owned by Mitsubishi, are to dispose of the Fray Bentos brand. The move is being made in order to allay the concerns of the Office of Fair Trading regarding the agreed sale of Premier’s canned business, including the Fray […]

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Tate & Lyle Completes Retreat From Sugar

    Tate & Lyle Completes Retreat From Sugar

Tate & Lyle is disposing of its sugar interests in Vietnam to TH Milk Food Joint Stock Company, a local Vietnamese company, for £33m. The transaction is expected to be completed in the first half of the current financial year.
The sale completes a two year disposal strategy that has entailed Tate & Lyle divesting its sugar […]

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Premier Foods to Sell Canned Grocery Operation to Princes For £182m

    Premier Foods to Sell Canned Grocery Operation to Princes For £182m

Premier Foods has agreed to sell its East Anglian canned grocery operations to Princes for £182m. The sale is in line with Premier’s strategy of reducing debt and follows the proposed disposal of its meat-free business.
The canned operations are part of the Premier’s grocery division and have two manufacturing sites in the UK at Long […]

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Premier Foods Disposes of Meat-free Business for £205 Million

    Premier Foods Disposes of Meat-free Business for £205 Million

Premier Foods is selling its meat-free business, which manufactures and sells products under the Quorn and Cauldron brands, to Exponent Private Equity and Intermediate Capital Group for £205m. The business being sold is expected to report sales of £128.8m and EBITDA of £19.3m in the year to 31st December 2010. The price represents a multiple […]

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Carlsberg Sells German Brewery

    Carlsberg Sells German Brewery

The Carlsberg Group has sold its Feldschlosschen brewery in Dresden, Germany, to Frankfurter Brauhaus. The disposal is part of Carlsberg Deutschland’s strategy of focusing on five core brands in Northern Germany – Carlsberg, Holsten, Lubzer, Duckstein and Astra.
Frankfurter Brauhaus has taken over the responsibility for the 172 employees at the Feldschlosschen brewery and within logistics […]

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Nestle Streamlines Russian Confectionery Business

    Nestle Streamlines Russian Confectionery Business

Nestle is reported to have sold its Altai Confectionery business in Russia to local private company Corminus Enterprises for an undisclosed sum. The Altai plant produced about 17,000 tonnes of confectionery products, including brands Altai and Savinov, in 2009.
The disposal will allow Nestle in Russia to focus resources on its well established core confectionery brands […]

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Premier Foods Moves Closer to Meat-free Disposal

    Premier Foods Moves Closer to Meat-free Disposal

Premier Foods has confirmed that it has received bids for its meat-free business, incorporating the Quorn brand, from a number of parties, including multinational food groups and private equity firms. Discussions are proceeding and are at an advanced stage with two potential buyers.
Nestle is reported to be one of the food group’s interested in Premier […]

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Belvedere Disposes of US Spirits Production Business

Belvedere, the French spirits group, has sold its US production business, Florida Distillers, for $48m. However, Belvedere will retain is US distribution business, which includes the 4 Orange and Sobieski vodka brands. Belvedere acquired Florida Distillers for $56m in 2007.

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Danone Completes Russian Dairy Deal

  Danone Completes Russian Dairy Deal

Danone has finalised the sale of its 18.4% stake in Wimm Bill Dann Foods, the Russian dairy and food group for $470m. Danone has held the stake since Wimm Bill Dann Foods’ IPO in 2002.
The closing of the transaction was subject to the grant of the required regulatory approvals for the merger of Danone’s fresh […]

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Premier Foods Receives Approaches for Meat Free Business

  Premier Foods Receives Approaches for Meat Free Business

Premier Foods, the UK’s largest domestic food processor, has received approaches that may or may not lead to a sale of its meat free business, including the Quorn brand. The disposal of the business, which analysts estimate to be worth between £200m and £250m, would help Premier reduce its debt burden following a series of […]

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Coca-Cola Enterprises Sees Solid Growth Opportunities in Western Europe

  Coca-Cola Enterprises Sees Solid Growth Opportunities in Western Europe

Coca-Cola Enterprises, the world’s largest bottler of Coca-Cola products which will soon be focused purely on some of the largest but also most mature soft drinks markets in Western Europe, is optimistic about the long-term growth prospects for this territory. The group aims to achieve in currency neutral terms: revenue growth of 4% to 6%; […]

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Greencore Completes Disposal of Dutch Convenience Food Business

  Greencore Completes Disposal of Dutch Convenience Food Business

Leading UK and Irish convenience food manufacturer Greencore Group has completed the sale of its Netherlands-based convenience foods business, Greencore Continental, to Convenience Foods Europe, a subsidiary of Parcom Buy Out Fund IV.
Greencore Continental supplies sandwiches, chilled pizzas and chilled sauces to customers based in Continental Europe. It operates from two facilities located at Liessel […]

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Nestle Completes Disposal of Alcon

  Nestle Completes Disposal of Alcon

Nestle has completed the sale of its remaining 52% stake in Alcon, the global eye care business, to Novartis for $28.3b.
Nestle acquired Alcon in 1977 for $280m. Over the years, Nestle supported Alcon’s R&D drive and international expansion, enabling the company to build a significant global leadership position in ophthalmology.
Paul Bulcke, chief executive of Nestle.
Taking […]

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Barilla Disposes of German Bakery Business

  Barilla Disposes of German Bakery Business

Italian pasta and bakery group Barilla is selling Kamps, its German bakery chain, to ECM Equity Capital, a Frankfurt-based private equity firm, for an undisclosed price. Kamps has 900 franchise shops in Germany selling bread and baked goods, supported by five bakery plants, and had sales of over Eur300m last year.
Kamps along with a business […]

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Danone to Dispose of Stake in Wimm-Bill-Dann Foods

  Danone to Dispose of Stake in Wimm-Bill-Dann Foods

Danone has agreed to sell its 18.4% stake in Wimm-Bill-Dann Foods to the Russian food group for a total consideration of $470m. The agreement follows the recent announcement of the joint-venture between Danone and Unimilk in the CIS region. The deal is conditional upon Danone receiving the necessary regulatory approvals for the merger of its […]

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Danone to Sell Stake in Chinese Juice Business For €200m

  Danone to Sell Stake in Chinese Juice Business For €200m

Danone has agreed to sell its 22.98% shareholding in China Huiyuan Juice Group, which is listed on the Hong Kong Stock Exchange, for about Eur200m to SAIF Partners, a Hong-Kong-based private equity firm. Huiyuan holds a leading position in the fruit juice market in China.
The disposal is in line with Danone’s strategy to focus the […]

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Greencore to Dispose of Dutch Convenience Food Business

  Greencore to Dispose of Dutch Convenience Food Business

Greencore Group is selling its Netherlands-based convenience foods business, Greencore Continental, to Convenience Foods Europe, a subsidiary of Parcom Buy Out Fund IV.
Greencore Continental supplies sandwiches, chilled pizzas and chilled sauces to customers based in Continental Europe. It operates from two facilities located at Liessel and Alphen in The Netherlands. The turnover of Greencore Continental […]

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Kraft Foods to Sell Cadbury’s Romanian Business

Kraft Foods is selling its Cadbury’s Kandia-Excelent chocolate, soft cake and sugar confectionery business in Romania to Oryxa Capital, an international investment fund, for an undisclosed sum. The sale includes Kandia-Excelent brands (Rom, Magura, Kandia, Laura, Sugus and Silvana and others), related trademarks and the manufacturing facility in Bucharest.
Kandia-Excelent employs approximately 530 people. Kraft Foods will […]

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Sara Lee Refocusing Continues With €320m Disposal

  Sara Lee Refocusing Continues With €320m Disposal

US-based food, household and body care products group Sara Lee has completed the sale of its air care operation to Procter & Gamble for Eur320m. The disposal is part of the divesture of Sara Lee’s household and body care business as it seeks to refocus on its global food and beverage activities.
Brenda Barnes, chairman and […]

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Pernod Ricard Disposes of Spanish Wine Interest

Global spirits and wine group Pernod Ricard has agreed to sell its shares in Spanish drinks company Ambrosio Velasco to Diego Zamora for a cash consideration of Eur33.1m. The closing of the transaction is subject to clearance by the Spanish competition authorities.
Diego Zamora is a family owned Spanish company, best known as the producer of […]

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Tate & Lyle Disposes of EU Sugar Operations For £211m

  Tate & Lyle Disposes of EU Sugar Operations For £211m

Tate & Lyle is selling its EU sugar refining operations to American Sugar Refining, the largest cane sugar refiner in North America, for £211m in cash. The deal reflects the change in development strategy adopted by Javed Ahmed, the new chief executive of Tate & Lyle.
EU S consists of the cane sugar refineries in London, […]

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