The Bonduelle group has sold its half share in Spanish frozen vegetable producer Ultracongelados de la Ribera (UCR) to its Belgian partner Ardo.
The deal includes a plant at Benimodo in the eastern region of Valencia which employs 240 people and produces almost 30,000 tonnes of food, including pre-cooked dishes, with a turnover of some EUR35m a year.
In a joint statement the two companies said the buy-out was the best option for the future of the factory and its staff, stressing that “the quality of its facilities and the technologies used, place it at the forefront of the food processing sites in the Iberian Peninsula.”
They said existing agreements would see UCR continue supplying Bonduelle for at least the next five years. The plan is to integrate the Benimodo plan into the structure of the Ardo group, which specializes in frozen vegetables, herbs and fruit.
Based at Ardooie in Belgium, it has 20 production, distributing and packing units in eight European countries, selling 760,000 tonnes of product a year in 58 countries.
The Bonduelle group, based in Villeneuve d’Ascq in France, is the world leader in processed vegetables, with a turnover of EUR1.98bn in the year ended 30 June 2015.