Sector News

French co-op Terrena in talks to buy stake in poultry group Doux

May 20, 2015
Food & Drink
(Reuters) – Agricultural co-operative Terrena is in exclusive talks to buy a controlling stake in Doux, France’s largest poultry exporter, with oilseed investment firm Sofiproteol, the companies said on Tuesday.
 
Terrena, backed by Sofiproteol as a minority partner, will buy the 52.5 percent controlling stake of D&P Participations, a French family-owned investment vehicle, the companies said in a statement.
 
They did not give a value for the stake or a deadline for the negotiations. The exact split between Sofiproteol and Terrena also remained unclear.
 
Doux, which had sales of 457 million euros ($510 million) last year, was in court administration in 2012 and 2013 when it shed most of its activities in France in order to focus on its export business.
 
“Through this agreement the partners plan to take advantage of a growing market for poultry driven by buoyant world consumption,” the statement said.
 
Terrena’s poultry division had sales of around 850 million euros last year out of group revenue of 4.7 billion.
 
Terrena and Sofiproteol, which is part of farmer-controlled oilseed group Avril, will take the controlling stake in Doux alongside the Doux family and Saudi group Almunajem.

comments closed

Related News

January 22, 2023

Danone unveils plan to cut methane emissions

Food & Drink

The company expects to eliminate 1.2 billion tons carbon dioxide equivalent of methane emissions by the end of the decade. The company says that it already reduced its methane emissions by around 14% between 2018 and 2020.

January 22, 2023

US researchers land US$2.4M to turn food waste into “affordable” bioplastics

Food & Drink

The “first-of-its-kind” pilot project will develop and demonstrate an affordable modular bioprocessing system to produce biodegradable bioplastics from food waste diverted from landfills. The three-year grant will test the scalability and feasibility of the conversion on a national and global scale.

January 22, 2023

Arkeon partners with ICL to transform CO2 into proteins

Food & Drink

Arkeon is allying with specialty mineral giant ICL to support the scaling of its fermentation bioprocess that converts CO2 into the 20 proteinogenic essential amino acids needed in human nutrition. The process, hailed as carbon negative, is based on the use of archaea, a group of microorganisms that naturally feeds off the greenhouse gas.

How can we help you?

We're easy to reach