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"Hein Deprez: "Opportunity was too good to pass up"

Europe: McCain taking over Lutosa

After all the speculation, it has finally been made official who will be taking over the potato division of PinguinLutosa. It was clear at the beginning of September that multiple parties were interested in this division. At the end of last week, it was announced that McCain had taken over Lutosa for 225 million euro. The PinguinLutosa Food Group took over the name Lutosa five years ago for 175 million euro.

After the sale of the potato division, the West-Flemish group will still consist of its frozen vegetable division Pinguin and the canning manufacturer Scana Noliko. It was indicated that McCain will keep the two Lutosa locations in Leuze and Sint-Eloois-Vijve. According to PinguinLutosa, nothing will change for the employees at the locations involved. The sale concerns the production, marketing and distribution activities of Lutosa for frozen, chilled and dried potato products, as well as the Lutosa brand name.

A binding agreement has been approved by the Board of Directors of both parties. The acquisition is subject to provisional due diligence and other regulatory approvals. The details of the agreement were not disclosed. "This acquisition is in line with our strategy to reinforce our core activities in the potato industry in Europe. The products and brand positioning of Lutosa and McCain are highly complementary. Lutosa will help us improve our product offerings to expand to a wider range of consumers, while continuity is guaranteed in terms of investment and excellent service, "said Jean Bernou, CEO of McCain Continental Europe.

Hein Deprez, CEO of PinguinLutosa Food Group, commented: "We found this opportunity too good to pass up when we were approached by McCain. This gives us the opportunity to focus on our core activities in the fruit and vegetables sector, while the Lutosa branch can expand further. Lutosa has established itself as a strong brand, and has gained a strong market position in the world. The company is backed by a strong team of employees, partners, farmers and traders. We are very pleased that Lutosa will be one of the market leaders in the potato sector and that it can continue to grow."


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