Vion closing in on MBO for pork business
Vion closing in on MBO for pork business
Reports are emerging that Vion, in its plan to quit the UK, may be close to a deal with its management for its pork division business.
A spokesman reported: “We still have a few enquiries and no deal has been signed.” The Scotsman newspaper has indicated today that the deal could be announced during this week and would include ten processing and farming sites.
Across the weekend reports emerged that the deal is to be backed by Leeds-based private equity firm, Endless. The pork division has a turnover of £800 million and employs 5,000 people. The sale of the Vion red meat and poultry plants are said to be advancing more slowly, but talks were ongoing.
However, the move appears to have come too late to include Hall’s of Broxburn, which will be closing its doors in February with the loss of 1,700 jobs, the biggest single job loss in Scotland since Motorola in 2001, according to The Financial Times.
