VION has sold Convenience Retail
19 May 2014 – Awarded to a consortium that invests exclusively in small and medium-sized German businesses
After a careful selection process with several interested parties, the Dutch VION Food Group signed the agreements for the sale of its German Convenience Retail segment last Friday. The new main owner is a consortium of PARAGON PARTNERS, a Munich-based investment company, in combination with Jürgen Abraham and Norbert Barfuß.
Following VION’s decision to concentrate on its core activities – cattle and pig slaughter and Convenience Food service – VION Food Group has divested its German Convenience Retail activities, consisting of seven production sites, 29 branches, nine fresh meat centres and three meat markets, as well as the “Lutz”, “Weimarer”, “Nocker”, “Artland” , “Vegetaria” and “Heiter – Ihr Rheingauer Metzger” brands. The total turnover of this segment is some 435 million euro.
The buyers are convinced that the full potential of the German Convenience Retail segment can be developed under the new owner and that all conditions have been fulfilled to enable the sustainable growth of the company in the German markets of convenience and sausage products.
By opting for this consortium that invests exclusively in small and medium-sized German businesses, this segment was awarded to a buyer with many years of experience in the German and European food industry.
The new owners’ intention and ability to competently and professionally continue operations was also crucial to VION’s choice. Furthermore, it was always VION’s objective to sell the entire segment to one investor.
The consortium will connect VION’s Convenience Retail activities together and continue to develop them, making them ready for the future and further expanding them under the umbrella of Lutz Fleischwaren, a company with a long history.
The transaction was entered into subject to the customary required approvals being granted. It has been agreed that the purchase price would not be disclosed.