Greenyard and Cornerstone Investment Management have reached an agreement on the sale of Greenyard Prepared Netherlands, a mushroom processing company.
Focusing on core activities
The Belgian fruit and vegetable giant will sell Greenyard Prepared Netherlands to the Polish investment company Cornerstone Investment Management. The Dutch company specialises in processing and packing fresh mushrooms in cans and jars and has a factory in Velden, a village near Venlo.
The transaction, valued at 17 million euros in shares, is expected to be completed during the summer. According to Greenyard, the divestment will have "no material effect" on the group results but will help to reduce the company's debt ratio further.
"With the divestment of Greenyard Prepared Netherlands, we complete our transformation and can fully focus on the further acceleration of our core global business while continuing to strengthen our strategic relationships," said Hein Deprez, co-CEO of the fruit and vegetable group.