Dutch food processing company Vion Food Group has plans to divest all its businesses in UK and return to its core market of food processing in Netherlands and Germany.
The company has also decided to focus more on food ingredients business in the global market.
The new strategy was in wake of unfavourable results of the company’s previous acquisition and growth plans, which failed to deliver expected financial performance.
Vion CEO and executive board chairman Dirk Kloosterboer said that the management is returning firm’s focus to its core pork and beef activities in the Netherlands and Germany, while ingredients business will continue its development globally.
"The divestments, of which our British food activities constitute by far the largest part, will be implemented carefully," added Kloosterboer.
Vion, which forayed in the UK market with the acquisition of Grampian Country Food Group in 2008, had various businesses in the country including pharmaceutical brand Pharmacaps, frozen food brand, Oerlemans Foods and other non-core operations.
Pharmacaps was sold to a Canadian pharmaceutical major Patheon on 29 October 2012 and the transaction is expected to be completed by the end of 2012, while the divestment of Oerlemans Foods has already been announced.
The food company that is presently focusing on selling its pork, red meat and poultry UK businesses, also assured that they will take considerable measures for the involved employees, customers and suppliers.