Greenyard has announced that it has signed an agreement for the divestment of Greenyard Logistics Portugal through a management buyout (MBO).
This company has operated in Portugal since 2001 in the food transport and logistics market, with a strong focus on perishable products, including fruits and vegetables.
When the transaction is completed, Greenyard Logistics Portugal will be owned and managed by its current management team, Vitor Figueiredo and Manuel Rodriguez, who remain respectively CEO and COO of the company.
The transaction will be subject to approvals and regulatory requirements, and It is expected that the final closing of the MBO will take place in the coming months.
“Our relationship with Vitor Figueiredo and his management team has been very valuable," says Hein Deprez, co-CEO at Greenyard. "However, the synergies have diminished as Greenyard is further concentrating on its core business in other countries.
"We will part ways with great appreciation of our partnership, and we believe that Greenyard Logistics Portugal will continue to be a key logistics provider in Portugal, offering logistics operations in a multi-client model."