Sector News

Fazer Group offloads its Food Services business for 475m euros

June 12, 2019
Food & Drink

Get involved in the discussion! Click here to comment on this story

Fazer Group has agreed to sell Fazer Food Services, a premier foodservice provider in the Nordic region, to Compass Group PLC, a global foodservice provider operating in around 45 countries.

The move has been agreed for around €475 million, and marks Fazer Group’s commitment to focusing on strategy and growth prospects.

Christoph Vitzthum, president and CEO of Fazer Group said: “We see interesting growth opportunities in all of Fazer Group’s businesses – each with their specific investment requirements – and, therefore, we have decided to streamline the business portfolio to enable focus in capturing these opportunities.

“We are extremely pleased to have Compass Group PLC as a potential new owner for Fazer Food Services. Fazer Food Services can start a new phase in its journey with even stronger support to grow and further improve its business. Fazer Group will use the funds from the sale of Fazer Food Services to invest in Fazer Group’s growth strategy.”

Fazer Food Services provides goods for the foodservice sector, and owns brands such as Amica and Tastory.

Dominic Blakemore, CEO of Compass Group, said: “Fazer Food Services is a highly regarded foodservice business in the Nordic region, and like Compass Group PLC, is focused on high-quality food, culinary innovation, sustainability and great customer service. I am excited that, together with our existing colleagues in the region, we will be able to further enhance our customer proposition in the Nordic market.”

Compass Group PLC is a global foodservice provider with revenues of around €26 billion. It operates in around 45 countries, employs 600,000 people and serves over 5.5 billion meals a year.

By Harriet Jachec

Source: FoodBev

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 19, 2019

Suedzucker closing Antwerp export office, focuses on EU

Food & Drink

LinkedIn Twitter FacebookSuedzucker, Europe’s largest sugar refiner, said on Monday it will close an export sales office in Antwerp, Belgium as part of its strategy to concentrate on business in […]

November 19, 2019

Swiss grain merchant Ameropa picks Bunge executive as next CEO

Food & Drink

LinkedIn Twitter FacebookSwiss grain merchant Ameropa said on Monday it has appointed William Dujardin, a longstanding manager at Bunge, as its next chief executive. Dujardin will take up the post […]

November 18, 2019

DSM acquires CSK Food Enrichment for 150m euros

Food & Drink

LinkedIn Twitter FacebookDSM has secured a deal to acquire dairy solutions provider CSK Food Enrichment for a cash consideration of about €150 million. With the purchase, DSM aims to strengthen […]

Subscribe to our Weekly Newsletter

We're easy to reach