News Pigs
Rumors of sale Tönnies
Clemens Tönnies is investigating the sale of the company of the same name, according to Bloomberg news agency. The potential buyers would be Tyson Foods, JBS and WH Group. If the rumors are true, it could lead to a deal worth more than €4 billion. Tönnies does not respond with a 'yes' or 'no' to the rumors.
Bloomberg reports that Clemens Tönnies is investigating the sale of Germany's largest meat processor. This is because the Tönnies company became involved in a national scandal surrounding an outbreak of the corona virus last year. It turned out that 1.500 employees were infected with the virus. In addition, there was criticism of the large-scale hiring of cheap temporary workers.
Potential buyers would be the American Tyson Foods, the Brazilian JBS and the Chinese WH Group. According to Bloomberg, if the rumors are true, it could just be a €4 billion deal.
No reaction
Tönnies does not answer the rumors with 'yes' or 'no'. "Tönnies is a healthy company that is growing worldwide. We do not comment on market rumours. It is we who create the market and we aim to expand. We are investing heavily in Germany, Denmark, Great Britain, China and Spain, expanding in the vegetable market and open new ranges. We are not influenced by rumours, but we prove with our daily work that we are ready for the future in the company," say Clemens Tönnies and Maximilian Tönnies.
According to various German media, it is striking that Robert Tönnies, who owns 50% of the shares, has not signed the press statement. Clemens Tönnies has a share of 45%. In 2019, the company reported revenue of €7,3 billion.
Kimberly Baker
© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.
