D.he owners of the meat company Tönnies are considering a multi-billion dollar sale of their company, according to an agency report. This could be valued at around four billion euros, reported the Bloomberg news agency on Thursday, citing people familiar with the process.
Talks with potential bidders could begin in the next few weeks. Among other things, the competitors Tyson Foods, JBS SA and the Chinese WH Group are seen as interested parties. A final decision has not yet been made. The main owners of the group are Clemens and Robert Tönnies, who wanted to part with their shares in the event of a sale, it said. “In principle, we do not comment on market rumors,” said a Tönnies spokesman.
“The market is on the move,” said an industry insider. It is no secret that the American company Tyson wants to expand in Europe. Tönnies, by far the largest German slaughterhouse, reported that it had a turnover of 7.3 billion euros in 2019 with over 16,000 employees.
In its core business, the company, which was founded in 1971 and has grown through numerous acquisitions, deals with the slaughter, butchering and processing of pigs and cattle. The group, based in Rheda-Wiedenbrück in North Rhine-Westphalia, hit the headlines after a corona outbreak at the main plant last year. Over 1,500 employees were infected with the virus. In politics there had been repeated criticism of the working conditions at Tönnies.
As a result, Clemens Tönnies, managing partner of the group, resigned from his position as chairman of the supervisory board of the Bundesliga soccer club Schalke 04 at the end of June 2020. “My main task is currently to concentrate fully on my company, to lead it successfully through the worst crisis in its history,” Tönnies justified the step in a letter to the association.
In the past there had always been arguments between the main shareholder Robert Tönnies and his uncle Clemens Tönnies. Among other things, a company spokesman appealed to Robert to “dedicate himself to the cause of the company in the tradition of the Tönnies family”. Clemens Tönnies controls around 45 percent of the shares, Robert Tönnies owns around 50 percent.
Maximilian Tönnies, son of Clemens Tönnies, who is also a partner, also works in the group. Among other things, he was entrusted with the company’s expansion in the vegetarian food market. Tönnies is represented there with the brands “Vevia” and “Gutfried veggie”.
#finally #decided #Tönnies #owners #selling #slaughterhouse #group