Lamex to buy share in struggling Serbian supplier

By Kacey Culliney

- Last updated on GMT

Lamex says its new stake in red fruit specialist Mondi Serbia would secure quality
Lamex says its new stake in red fruit specialist Mondi Serbia would secure quality

Related tags Investment Serbia Finance

Frozen fruit specialist Lamex Food Group will buy a majority stake in Serbian red fruit processor to boost business and protect the group’s supply chain, its CEO says.

The UK-headquartered group will buy a majority holding in the red fruit specialist Mondi Serbia – a company it has sourced from for a number of years.

The deal, subject to Serbian approval, is expected to close in May and will see the business renamed Mondi Lamex.

CEO of Lamex Food Group Phil Wallace said that Mondi Serbia had been hit hard by the continued increase in raw material costs and a lack of available finance.

The acquisition, he said, would ensure stable finances for the Serbian supplier.

“Having access to Lamex’s financial stability, worldwide sales, technical and global logistics expertise will ensure a seamless transfer for existing Mondi Serbia customers,” ​he said.

We believe that Lamex’s experience in the technical assurance and sale of frozen fruit will bring significant benefits to the new business,”​ he added.

Part of a broader high quality investment plan

The CEO said the acquisition formed part of a wider investment plan that seeks to invest in the quality of ingredients throughout Lamex’s supply chain.

“Adding red fruits from a high quality processor like Mondi Servia to the Lamex Agrifoods portfolio is the first step in a chain of carefully planned investments designed to protect the supply chain of our higher profile customers around the world that procure high quality frozen fruit,”​ he said.

Lamex said that under the new business it would invest in new developments, including organic products, and up capacity at the Kraljevo facility.

Related news

Related products

show more

 Four actionable steps to reduce allergen recalls

Four actionable steps to reduce allergen recalls

Content provided by FoodChain ID | 10-Oct-2023 | White Paper

Failing to mitigate allergen risks has serious consequences - not just for consumer safety, poor allergen procedures can also cause financial losses and...

H&F Pectin: Plant-based alternative to gelatine

H&F Pectin: Plant-based alternative to gelatine

Content provided by H&F – Innovative Solutions for your Product Developments | 12-May-2023 | Application Note

H&F Pectins are excellent as a plant-based alternative to gelatine in many applications.

Related suppliers

Follow us

Products

View more

Webinars