Univeg to sell off non-fruit subsidiaries

For fresh fruit and vegetable marketing and distribution in Asia
Steven Maxwell

BY STEVEN MAXWELL

Univeg to sell off non-fruit subsidiaries

Group announces restructuring plan, including separate business for foreign operations and likely sell-off of other business units

Univeg to sell off non-fruit subsidiaries

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Univeg Group has announced that it will place renewed focus on its fruit and vegetable business in Europe and the US, hinting that it is likely to sell-off other business interests, which may include plants and flowers, and logistics centres.

Launching a new global strategic plan, the Belgium-based group said it had decided to increase its emphasis on its fruit and vegetable operations, while revealing “a number of other businesses will be divested”.

In a statement, Univeg said it also intended to separate its service and trading operations in fruit and vegetables from its overseas production units, with the latter forming a separate legal entity called Univeg Fruitpartners.

The group said the new business would “solidify commitment to primary production and target new territory”, while continuing to be jointly owned by the exisiting shareholders of Univeg group.

In addition, Univeg said Univeg Fruitpartners would seek to attract other partners to “invest in existing and new to be defined production areas”.

The group added that the renewed focus on Univeg’s core business and restructuring of operations would also “imply right sizing” of the organisation of Univeg headquarters.

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