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PinguinLutosa aims at leader's place in Europe
Belgium
Thursday 20 May 2010
FJ
PinguinLutosa, 2nd in Europe, will reach the 1st place with the repurchase of Aucy Frozen Foods Division.
The Belgian PinguinLutosa began negotiations with Cecab to acquire its division of Aucy Frozen Foods's deep-frozen vegetables.
Cecab group is implanted in Theix (Morbihan - France), its division of Aucy Frozen Foods which holds 8 factories in France, in Poland and in Hungary, sold more than 145.000 tons of vegetables frozen last year.
In return of this repurchase, Pinguin Lutosa (431 million euro of turnover in 2009) will open its capital to Cecab, the cooperative group should take so at least 10 % of its actions.
Pinguin Lutosa sells 260 000 tons of deep-frozen vegetables a year, the envisaged repurchase would allow the creation of a group which would be the first one in Europe.
The repurchase would be concretized by the end of 2010 to be operational from 2011.
Source: express be, new factory
