Sector News

Bonduelle buys a new factory in Canada

October 3, 2014
Food & Drink
Bonduelle is present in 100 countries and has 500 vegetables, yet their results were perturbed by both fine and unfavourable exchange rates.  However their dynamic remains good and they have bought a factory in Cananda.
 
Bonduelle’s turnover has increased +1.3% over their 2013-14 exercise.  Their operating income has decreased -2.8% (+3.5% at constant exchange rates). Their net profit has decreased by 70% to €15.2 million because the group had to pay a €30 million fine.  The European Commission, competition watchdogs, estimated that their was an arrangement with other groups on canned mushroom prices.  If it weren’t for such events, Bonduelle’s profit would have reached €51.3 million (compared to €52.1 million last year).  It should be noted that despite the bleak economical context in Europe, the group has achieved a 1.5% sales growth.  
 
The group aim for a growth in their current operating income in 2014-2015 from +3 to +6% between €106-€109 million.  
 
Bonduelle announced their project to buy a frozen vegetable company in Alberta, West Canada.  With it’s 15,000 ton capacity, the site will reinforce the groups presence in North America. They already own 7 factories in Canada and 3 in the USA.  The value of the transaction, which will be finalised before the 1st November, remains a secret.  
 
Source: FreshPlaza

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