Fazer has finalised the sale of Fazer Food Services to Compass Group PLC
Fazer Group focuses on its fast-moving consumer goods and has now completed the transaction where Fazer Food Services was sold to Compass Group.
Fazer Group is speeding up its transformation into a modern sustainable food company with a joint direction by executing its strategy focusing on its FMCG and direct-to-consumer businesses. Last June, as a part of this transformation, Fazer Group agreed to sell Fazer Food Services to Compass Group. This transaction has now been completed and as of February 1st, 2020, the ownership of the food services business is transferred to Compass Group.
Fazer Food Services was founded as Fazer Catering in 1976 and for over 40 years, Fazer has developed the business to the point where it is today, with more than 7,000 employees. Fazer Food Services has more than 1,000 restaurants of which 500 are located in Finland, 230 in Sweden, 150 in Denmark and 120 in Norway. In addition, it has a production kitchen in Estonia.
“With its new owner, the food services business is now ready to take the next steps in developing the Nordic food service market. I would like to take this opportunity to thank all our fantastic colleagues at Fazer Food Services. Fazer Group will continue as an FMCG company. We will execute our strategy, transforming to a modern sustainable food company with a joint direction.” says Christoph Vitzthum, Fazer Group’s President & CEO.
Fazer Group is committed to supporting Compass Group and the food services business previously owned by Fazer in enabling a smooth transition. Fazer has also agreed to license the Fazer Food & Co brand and concept in Finland for three years.
Fazer Group
Fazer, The Food Experience Company, enables people to enjoy the best moments of their day. In 1891, the young Karl Fazer opened his first café with a mission to make food with a purpose – and a passion to create moments of joy for all the people around him. Shaping the next tastes, traditions and food experiences, Fazer builds on its strong heritage, consumer first approach and innovations to create the sustainable food solutions of the future. Fazer is focusing on its fast-moving consumer goods and direct-to-consumer businesses, transforming into a modern sustainable food company with a joint direction. The Group operates in nine countries and exports to around 40 countries. Fazer’s operations comply with ethical principles that are based on the Group’s values and the UN Global Compact.
Northern Magic. Made Real.
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