All assets and employees will transfer to the In2food Group, which supplies convenience food to South African and Brazilian consumers.
Agust Gudmundsson, group ceo, said: “The disposal reflects our continued focus on the core markets which are key to our long-term growth strategy.”
‘Growth strategy’
Last month the manufacturer sold Heli Food Fresh, its ready meals operation in the Czech Republic, for an undisclosed sum.
Bakkavor operates food manufacturing plants in continental Europe, North America and Asia – supplying fresh prepared food products to both retail and foodservice customers.
Its UK customers include: Tesco, Marks & Spencer, Sainsbury, Waitrose, Asda and Morrisons.
The firm’s global workforce totals more than 19,000 people and it produces over 6,000 products in 18 different categories.