Zurich, Switzerland based Orior, specialised in fresh convenience foods and refined meat products, is acquiring the Belgian Culinor Food Group, a producer of ready-made meals and meal components with revenues of approximately €88 million ($98 million).
The deal aims to create a platform that will allow Orior to better serve the European market.
“This acquisition extends our leadership position in our core business of premium fresh convenience products beyond our domestic market and diversifies our existing target markets and sales channels”, commented Daniel Lutz, CEO of Orior Group. “That, in turn, creates additional growth potential and new inspiration for innovation”.
Culinor CEO Filip De Spiegeleire said: “Orior is the perfect fit – joining forces will make Culinor’s future brighter. I’m thrilled to see Culinor become part of Orior Group”.
According to Orior, Culinor will operate as an autonomous division within the wider business and the deal will be effective from the end of August 2016.