Belgium-based Univeg has confirmed that it is in preliminary discussions relating to a possible merger with Greenyard Foods and Peatinvest.
According to a press release, the board of directors of Univeg Group believes that a business combination of the three groups ‘has the potential to create a unique global player in the fruit and vegetables market capable of offering the full range of fresh, frozen and canned products.’ The possible combination of Univeg, Greenyard Foods and Peatinvest could create a global market leader with combined sales of more than of €3.7 billion.
Hein Deprez, Chairman of Univeg, Greenyard Foods and Peatinvest commented, “Creating a combined group offering fresh, frozen and canned fruit and vegetables would be beneficial to growers, retailers, consumer, employees and shareholders. We believe societal trends call for a more holistic view on fruit and vegetable consumption.”
The Deprez Holding is a reference shareholder in Univeg, Greenyard Foods and Peatinvest, while Greenyard Foods is listed on the Euronext Brussels stock exchange, and both potential merger partners also have their main offices in Belgium.
The company stressed that no final decision has been reached regarding the structure of any business combination and in the meantime, there can be no certainty on any agreement between the three companies. Some press reports speculate that a combination of the companies could pave the way for a sale or public offering.