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Germany's largest meat processor Toennies says not for sale

05 August 2021

Germany's largest meat processor Toennies is not for sale and its ownership structure will remain unchanged, its family owners said on Wednesday.

According to Reuters, the company's stakeholders - Robert, Clemens and Maximilian Toennies - said in a joint statement they wanted to run the business together in the future with a focus on sustainability and animal welfare.

News agency Bloomberg had reported in March that the family owners were seeking buyers for the 50-year-old firm in a deal that could value it at 4 billion euros ($4.75 billion), amid a family dispute over strategy.

The joint statement was the first by the company's owners to address the speculation over a sale. Clemens Toennies owns around 45% of its shares, his nephew Robert Toennies around 50% and Clemens' son Maximilian around 5%. ($1 = 0.8417 euros)

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