1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182 
Pinguin p-p-p-picks up Salvesen's frozen veg arm
Page 12
If you've noticed an error in this article please click here to report it so we can fix it.
Christian Salvesen has sold its frozen vegetable business for £17.2m to
focus on its logistics and transport divisions. Chris Tindall reports.
CHRISTIAN SALVESEN has taken another step towards concentrating solely on its logistics and transport divisions by selling its frozen vegetable business.
The sale of Christian Salvesen Foods to King's-Lynn-based Pinguin Foods, for £17.2m, does not immediately affect the storage and distribution of the products; this will continue to be carried out on behalf of the new owners from sites at Grimsby, Hull and Lowestoft for at least the next 16 months. However, the deal does mean stock, plant, machinery, contracts and 263 people at its Bourne, Thoresby and Easton sites in Lincolnshire will transfer over to Pinguin Foods by mid-September.
In addition, Christian Salvesen has agreed to lease the land and buildings rentfree to Pinguin for the next six years.
Speaking exclusively to Commercial Motor, Salvesen chief executive Stewart Oades says it makes sense to dispense of the frozen food venture as "it is not strategically central to our business going forward."
Commenting on whether its strategy is now complete. Oades adds; "A strategy is never complete, but refined every year. The business is concentrated on the things we want it to do.
"We've had a good year of growth; we hope to see further growth in the next 12 months."
Oades will not be drawn on whether he is in the market for acquisitions, but adds: -My principle focus is to continue our successful growth in France and Spain. Both those markets have been growing 8-10% per year and we would expect to see them continue to do so. Our clear strategy for the 1.1K is to return it to an acceptable level of business."
• Christian Salvesen Foods reported a turnover of £45in in the year ending 31 March 2007; the recent flooding is expected to have affected the first-half performance of its UK Logistics business.