Bakkavör’s sale of French and Spanish businesses approved

04-Apr-2013 - Last updated on 05-Apr-2013 at 09:13 GMT

Bakkavör has received approval for the sale of its salad businesses in France and Spain

Own-label convenience food manufacturer Bakkavör has confirmed it had received approval from the French and Spanish competition authorities for the sale of several of its European food businesses.

The authorities in both countries have approved the sale of Bakkavör’s French and Spanish produce businesses to the leading European food co-operative Société Cooperative Agricole et Agro-alimentaire Agrial.

Bakkavör said the sale marked “an important step in reshaping Bakkavor’s operations to focus on its core fresh prepared market”.

£28.1M debt free and net of cash

The disposal was made for £28.1M (€33M) debt free and net of cash.

The sale includes: Cinquième Saison Saint-Pol, Cinquième Saison Mâcon, Bakkavör France, Crudi and Sogesol.

Cinquième Saison was one of the first businesses in France to make leafy salads. It serves market sectors including leafy salads, snack salads, stir fry and cut herbs.

Sogelsol manufactures leafy and deli style salads. The business was established in 1998 and acquired by Bakkavör in April 2003.