The potato division of LinguimLutosa Food Group is in the spotlight at the moment.
The Board of Directors of PinguinLutosa has decided that a bid of 225 million Euro for the potato division will be accepted, after urgent consideration. This was reported by various domestic and foreign media sources. The name of the buyer will not be released at the moment and there is much speculation about who it is. It is understood that the buyer is either a European, or North American company.
Pinguin bought Lutosa in 2007 for 175 million Euro.
Pinguin bought Lutosa in 2007 for 175 million Euro.
PinguinLutosa Food Group is active in three divisions: frozen vegetables, processed potatoes and conservative. 20% is conservatives, 50% frozen vegetables and 30% potato products. The group has 17 locations and in total employs 3,4000 people.
When Hein Deprez got the chance to take over Lutosa in 2007, he didn't think about it twice. His motto was: we will make a company with a wider food assortment and strengthen the group with frozen potatoes.
Pinguin was no stranger to Lutosa, as they had cooperated before, in China. After the take over in 2009 it was decided to change the company name to PunguinLutosa Food Group. There were also important take overs in the group last year. The French d'Aucy Frozen Foods was completely taken over from the CECAB group and also Scana Noliko, known among conservatives.
www.pinguinlutosa.com
Pinguin was no stranger to Lutosa, as they had cooperated before, in China. After the take over in 2009 it was decided to change the company name to PunguinLutosa Food Group. There were also important take overs in the group last year. The French d'Aucy Frozen Foods was completely taken over from the CECAB group and also Scana Noliko, known among conservatives.
www.pinguinlutosa.com