The decision is part of Paulig’s strategy to sharpen focus on the World Foods and Tex Mex categories that drive the company’s long term growth.
The divestiture is part of its ongoing Accelerate strategy to reshape the portfolio and concentrate resources on priority global platforms, including super premium ice cream, Mexican food, snack bars, and pet food, to improve long term profitable growth and raise operating profit margins.
The Group says the closure supports efforts to reduce debt and make the business self-sustaining.