Germany

Huge shock for the German meat industry

Mergers & Acquisitions

Clemens Toennies is prospecting ways to sell the largest meat producer in Germany.

Posted on Mar 19 ,11:18

Huge shock for the German meat industry

Germany's Toennies may be for sale, according to sources consulted by Bloomberg. The news agency said that Clemens Toennies is exploring a sale of Germany’s largest meat processor and looks for potential buyers such as Tyson Foods Inc., JBS SA and WH Group Ltd (China). If real, the decision could turn into a €4 billion ($4.8 billion) deal, the sources said.
In 2020, the company was embroiled in a nationwide scandal due to a huge coronavirus outbreak, when one of his meatpacking plants was ordered to shut after more than 1,500 workers tested positive for Covid-19. The outbreak, Germany’s biggest at the time, led to criticism of the company’s use of low-paid contract workers from eastern Europe and claims that their working environment failed to prevent the spread of the virus. Toennies has since launched a number of initiatives to try to regain the public’s trust.
Toennies Holding ApS & Co is a family business with 50 years of existence. Clemens Toennies owns about 45% of the company, and his nephew Robert holds 50%. Toennies Holding has 28 plants and exports its products to 82 countries around the globe. In 2019, the company reported a turnover of €7.3 billion.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

NEW ZEALAND

New Zealand farmers reject National Farmers’ Union of England lamb claims

"New Zealand upholds high animal welfare and environmental standards, making it an ideal partner ...


Read more Read more
GERMANY

Vion: Management change in Crailsheim

As of 1 June this year, Vion will be handing over the management of the Crailsheim abattoir to ne...


Read more Read more
USA

Queensland grainfed beef delegation to US

MLA partnered with Toowoomba and Surat Basin Enterprise (TSBE) and Trade and Investment Queenslan...


Read more Read more
Websolutions by Angular Software and SpiderClass