BERLIN (Reuters) – Germany’s largest meat processor Toennies is growing and expanding as the next generation of the family is taking over, managing partners of it said on Friday, declining to comment on a report that the group was seeking a buyer.
“We do not comment on market rumours. After all, it is we who create the market and push for expansion,” Clemens Toennies and Maximilian Toennies said in a letter to staff that was seen by Reuters.
“Interested groups” were spreading sales rumours, it said.
Clemens Toennies owns around 45% of the stock, his nephew Robert Toennies around 50% and Clemens’ son Maximilian around 5%. “With Maximilian, the next generation is active in management, our international expansion is progressing step by step,” the letter said.
Toennies could be seen as a target for peers such as Tyson Foods, JBS SA and China’s WH Group and talks could start within weeks, Bloomberg said.
Read full article Share on twitter