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Tönnies To Keep Ownership Structure Unchanged

Published on Aug 5 2021 10:58 AM in Supply Chain tagged: Germany / Management / Meat / Tönnies

Tönnies To Keep Ownership Structure Unchanged

German meat producer Tönnies has announced that its ownership structure will remain unchanged, with Robert Tönnies retaining 50% of the shares and Clemens and Maximilian Tönnies the remaining half.

The shareholders added that they will continue to lead the company together as a family business and declared the closure of the dismantling proceedings.

In the first half of 2021, the two shareholder groups jointly examined various options for the future ownership structure of the company.

They concluded that the current structure was the appropriate one for building on decades of successful work.

‘All shareholders have the goal of shaping the future of Tönnies together with the operational management,’ the company said in its statement and added that it is well-positioned and ready to systematically tackle the socio-political challenges.

The meat company reported full-year sales of €7.05 billon for its 2020 financial year, a 3% drop compared to the previous year, largely due to COVID-related effects.

Business Expansion

The company plans to expand its core business in Germany and focus on corporate development to achieve its goals.

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In the coming years, it will also focus on sustainability, climate protection, and animal welfare.

The expansion of new business areas such as pet food or plant-based meat alternatives will play an increasingly important role, Tönnies added.

It will also emphasise on the organic sector as part of its sustainable corporate development plan.

In June, Tönnies welcomed a collective agreement that proposed to increase the minimum wage for all employees in the country’s meat industry by more than 13% by 1 August 2021.

© 2021 European Supermarket Magazine. Article by Dayeeta Das. For more Supply Chain news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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