UK fresh prepared foods manufacturer Bakkavor Group has announced the sale of its Belgian fresh prepared food business, Vaco, to Culinor Food Group.
Bakkavor CEO Agust Gudmundsson said that the disposal would enable Baakkavor to increase its focus on its core markets. “This sale marks further progress for the Group as we focus on our core strategic growth markets of the UK, US and Asia.”
Earlier this year, Bakkavor indicated it will “accelerate” its capital investment programme to support growth after reporting “significant progress” in its core markets.
Culinor is a producer of fresh prepared ready meals for retail and food service operators across Belgium.
The sale is expected to complete by early autumn, Bakkavor said.
At the beginning of 2016, Bakkavor’s chairman and CEO, brothers Lýdur and Ágúst Gudmundsson, teamed up with US hedge fund The Baupost Group to take control of the UK-based own-label supplier.