FRANCE: Bonduelle, Coopagri in frozen veg tie-up
French companies Bonduelle and Coopagri have announced plans to combine their frozen vegetable businesses.
Coopagri will hold a 63% stake in the joint venture, through its subsidiary Gelagri, while Bonduelle will hold the remaining 37%, a spokesperson for Bonduelle confirmed today (15 September).
The newly-formed frozen vegetable manufacturer will process 150,000 tonnes of frozen vegetables in the EU. It will have an annual turnover of around EUR160m (US$226.41m).
Additionally, Bonduelle told just-food that it has acquired Belgian vegetable canning company La Corbeille.
"The acquisition compliments the direction of our business," the spokesperson said.
Headquartered in Westmeerbeek, near Antwerp, La Corbeille has a turnover of EUR67m per year. The company has three production facilities in Westmeerbeek, Rijkevorsel and Stabroek and produces 100,000 tonnes of canned vegetables each year.
Bonduelle, the France-based vegetable processor, is looking to expand its operations in Brazil and is eyeing two acquisitions in Canada as the company plans to boost its overseas business....
Bonduelle, the French food group, has blamed the weak economies of Europe for a dip in half-year profits....
Rising second-quarter sales at France-based vegetable group Bonduelle have not been enough to prevent a fall in first-half revenues....
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