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Fazer sells catering business in Estonia and Latvia
Juhan Tere, BC, Tallinn, 18.01.2011.
Print version
Print versionFazer catering unit Food Services (Fazer Amica) has decided to focus on Nordic and Russian markets and sells the Baltic region's catering and restaurant business, LETA/Postimees Online reports.
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Fazer Group president Karsten Slotte said that the market developments and future perspectives in Estonia and Latvia do not offer enough growth potential for the company.
A preliminary agreement has been reached with the management of Fazer Food Services Latvia according to which it will buy the catering businesses in Estonia and Latvia. The transaction should be carried out in spring.
The agreement does not imply the company's servicing kitchen and confectionery in Tallinn, which will be taken over by Fazer Food Services Finland.
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