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Bonduelle leaves Gelagri in Spain and FranceBonduelle has left the joint venture with Gelagri in Spain and France, after selling the minority stake it held to its partner Triskalia, as reported by the French manufacturer.
Gelagri is devoted to the freezing of all kinds of vegetables and the manufacture of pre-cooked, frozen and canned dishes.
"As a result of the respective contributions of the shareholders, who are experts in the frozen sector's brand, this joint venture has achieved, through industrial efficiency gains, an acute change of the activity in terms of financial performance," stated a Bonduelle representative.
The French manufacturer recalled that Gelagri's activity was considered "non-strategic" within the company. "Its sale has been made as the joint venture 'UltraCongelados de la Ribera' in the past year," they highlighted.
This announcement was made as part of the official presentation of Bonduelle's annual results, which have revealed a 16.3% increase in sales to € 2,288 million.
Publication date: 10/9/2017
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