Greenyard Foods Secures Real Estate at UK Site
Gent, Belgium-headquartered Greenyard Foods NV has acquired the real estate company of its frozen vegetable production and cold storage site in King's Lynn, United Kingdom. The facility, which freezes and packs peas and beans and a variety of other items, is capable of processing up to 16 tons per hour thanks to systems upgrade in recent years.
Demonstrating further implementation of an ongoing strategic plan, the company now owns all of its production facilities. The latest acquisition is part of the allocation of a bond loan that was issued in July of 2013.
The vegetable and fruit processing and marketing company, whose holdings include the Pinguin frozen division and Noliko canned products unit, operates 15 factories in six European countries. It has acquired a number of production facilities over the past 12 months or so, which optimized investments and accelerated efficiency improvements.
Meanwhile, publically traded Greenyard Foods (Euronext Brussels: GRYFO) has scheduled release of its 2013-14 Annual Report on July 23. Recently the company reported that sales rose +1.8% (or +3.1% at stable exchange rates) to €623.1 million during the fiscal year that ended on March 31, 2014.