Coop Switzerland has announced that it plans to increase its stake in Swiss meat processor and convenience food company Bell Food Group AG, to over 66.67%.
The cooperative, which currently holds 66.29% of the shares in Bell Food Group AG, believes that this is the ideal time to increase its stake in Bell Food Group.
It also added that the move would help Coop Switzerland in being a part of Bell’s success.
According to Coop, there are no plans to take over or delist the company.
In May of this year, the retailer announced that Alliance Ost Gemüse AG, Alliance Mitte AG, and Alliance Romande SA will merge on 1 January 2023 to form Alliance Gemüse Schweiz (Vegetable Alliance Switzerland) and continue their cooperation with Coop. The three organisations supply fresh vegetables to Coop Switzerland.
Bell Food Group offers a wide range of products, including meat, poultry, charcuterie, seafood and convenience and vegetarian products.
Its portfolio includes brands such as Bell, Eisberg, Hilcona and Hügli, with customers ranging from the retail trade to the food service sector, as well as the food processing industry.
The company, listed on the Swiss stock exchange, employs around 12,000 people.
Bell Food Group reported 3.2% growth in adjusted sales revenue, to CHF 4.2 billion (€4 billion), in its financial year 2021.
The Swiss food company attributed this performance, which it says is ’its best ever result’, to its strong core business in meat and convenience products in the Swiss retail market.