Bakkavor sells South African unit Spring Valley Foods
Bakkavor, a UK-based chilled prepared foods manufacturer, has sold its Spring Valley Foods business…Bakkavor, a UK-based chilled prepared foods manufacturer, has sold its Spring Valley Foods business in South Africa to In2food Group for an undisclosed sum.
Established in 1995, Spring Valley Foods supplies fresh prepared fruit to Marks and Spencer in the UK and Woolworths in South Africa. It provides mangoes, melon, pineapple for ready to eat fruit salads as well as avocado for use in dips and dressings by other Bakkavor businesses in the UK and Europe.
In2food Group is a provider of convenient food solutions in South Africa and Brazil.
As per the agreed terms, all the assets and employees of Spring Valley Foods move to the new owner.
Bakkavor Group CEO Agust Gudmundsson said, "The disposal reflects our continued focus on the core markets which are key to our long-term growth strategy."
In December, the company reported the sale of its ready meals unit Heli Food Fresh in Czech Republic to Yazico Investments and Axentia Financial Consultants for an undisclosed amount.
In May, it closed a plant in Cobourg, Canada, as the business was in loss.
Bakkavor is engaged in manufacturing of private label prepared foods for grocery retailers and international foodservice operators.
