Founder Hein Deprez is looking to delist Greenyard from the Brussels stock exchange. To this end, the major shareholder has joined forces with an anonymous financial partner.
Stock market exit
The talks about the stock market exit are at an advanced stage, Belgian newspaper De Tijd reports. Although the deal is not yet final, the direction seems clear: Deprez will remain involved in Greenyard, but the unknown financial partner would acquire the majority of the shares after the operation.
The plans may explain why trading in the share has been suspended since 1 April. The exit also fits into a broader restructuring plan, contributing to a financial reorganisation to reduce the high debt burden in Deprez’s holdings.
With a turnover of 5.1 billion euros, Greenyard is one of the largest fruit and vegetable sellers in Europe. The company has 8,600 employees and supplies to more than eighty countries. Last month, the company joined forces with Sligro and forged a strategic alliance with Gelagri Bretagne for the local processing of frozen vegetables. Deprez and his family currently own 37.7 % of Greenyard, almost 30 % of the shares are in public hands.
