Paragon acquires Vion's German convenience retail business

Paragon aims to connect the seven production sites, 29 branches, nine fresh meat centres and three meat markets together and continue to develop and expand them under the Lutz Fleischwaren brand. The Lutz, Weimarer, Nocker, Artland, Vegetaria and Heiter - Ihr Rheingauer Metzger brands have also been sold as part of the transaction.

Entrepreneur Jürgen Abraham, founder of dry-cured ham manufacturer Abraham-Schinken, and Vion managing director Norbert Barfuß also took part in the deal.

Vion sold the division following the decision taken in 2012 to complete a restructuring process, which would see its two main activities separate. The company aims to focus on its core activities: cattle and pig slaughter, and convenience food service.

Company
Vion's German convenience retail segment is headquartered in Düsseldorf, with a turnover of €435m.

Vion Food Group, headquartered in Eindhoven, is an international food company with a product portfolio comprising fresh pork, beef and derived products for the retail, food service and processed meat industries. It recorded revenues of €7bn in 2013, with EBITDA of €106m. Founded in 2003, it had 6,669 employees at the end of last year.

People
Michiel Herkemij is the CEO of Vion.

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• Topics
• DACH
• Buyouts
• Consumer
• Germany