News Reorganization
Greenyard puts canning branch up for sale
The Belgian Greenyard is putting its canned food branch up for sale. Along with cutting hundreds of jobs, the company hopes to get its financial numbers back in the black. The canned vegetables division has 2 factories in Belgium and 1 in the Netherlands.
Greenyard brought this one planning out Friday, March 15. The company has been in bad shape for a long time. Debt is now 5 to 6 times gross profit. By cutting more than 400 jobs, divesting factories and selling industrial vegetable activities, the tide must be turned.
Sales of canning branch
Greenyard is cutting jobs in all countries. Most jobs will be cut in the United Kingdom and Germany, but a number of jobs will also disappear in the Netherlands. The fruit and vegetable division has 2 factories in Belgium (Rijkevorsel and Bree) and 1 in the Netherlands (Velden). The company does not publish figures about the branch, but it says to the Belgian De Tijd that the sale must yield at least € 100 million.
In addition to the canning branch for vegetables, frozen factories and other less important parts are also sold. All in all, this should bring in €20 million this financial year and €44 million for the next financial year.
dry summer
According to Hein Deprez, the company's CEO, the extreme summer has made it extra difficult for Greenyard. He shares leadership with CEO Marc Zwaaneveld. Both are positive about the future. Despite these facts says the company does know that the cultivation contracts have been completed and the acreage is fully planned.
Greenyard has already gone through a series of mergers, reorganisations and sales. Previously called Pinguin, in 2013 it sold potato processor Lutosa to McCain and in 2015 it merged with 2 peers. The company wanted to become the largest fruit and vegetable company in the world: Greenyard Foods. Even then, the activities in (frozen) vegetables were shifted.
Niels van der Boom
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