Endless backs MBO of Vion Food UK
Turnaround player Endless has invested in the management buyout of Dutch food producer Vion's British pork business.
Vion announced in November it was selling its UK food operations, employing in total 13,000 people at 38 sites, to focus on its core food activities in the Netherlands and Germany as well as its global ingredients business.
The company stated that discussions are ongoing with a number of prospective purchasers for its other UK business units for poultry and red meat.
Company
Vion's UK pork facilities are located in Wiveliscombe, Malton, Haverhill, Scunthorpe, Hull, Stoke and Enfield in England, as well as Cookstown in Northern Ireland. Vion also operates a pig farming and feed mill operation in Scotland at Brydock, Aberdeenshire. In addition, Vion operates the McGees butchers business in the Republic of Ireland.
Vion Food UK is expected to post a £500m turnover in 2012 and employs around 4,000 staff.
The parent company Vion NV is headquarted in Eindhoven, the Netherlands, and employs 26,500 staff. According to its website, its revenues amounted to €9.5bn in 2011.
Advisers
Equity - Pinsent Masons, Edward Stead (Legal).
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