Potato processor Produce Investments is to lose a major contract, with supply to wind down by the end of summer next year.
Foodmanufacture.co.uk reports today that “the unnamed customer informed the producer of its plans to implement a single supplier strategy. As a result, Produce Investments will not be awarded a new supply contract once the existing agreement expires in August 2019.Produce Investments expected that the supply volumes to its customer would be gradually phased out over a three-year period from the expiration of the existing agreement.”
Produce Investments owns a number of potato growing and processing companies, including Swancote Foods, The Jersey Royal Company and Rowe Farming, as well as Greenvale AP.
Produce Investments recently accepted a £53 million takeover bid from a private equity firm.
Read the full report on Foodmanufacture.co.uk
“The unnamed customer informed the producer of its plans to implement a single supplier strategy. As a result, Produce Investments will not be awarded a new supply contract once the existing agreement expires in August 2019.Produce Investments expected that the supply volumes to its customer would be gradually phased out over a three-year period from the expiration of the existing agreement.
