FRANCE: Bongrain AOC cheese unit plots merger with rival
By Stuart Todd | 21 December 2011
Fromagers de Thiérache, a subsidiary of French dairy processor Bongrain, and AOC cheese rival Berthaut are studying a possible merger.
The plan under consideration would see Berthaut absorb Fromagers de Thiérache and take on the company's liabilities of EUR16m (US$20.9m). Fromagers de Thiérache will contribute almost EUR9m of assets to the combined company.
The cheese makers are looking to meet growing consumer demand for regional or specialty cheeses and accelerate their development on international markets, Bongrain said. Bongrain plans to allow the combined company to use its international sales network.
Fromagers de Thiérache specialises in northern French cheese Maroilles, which it markets under the Fauquet brand. It posted turnover of EUR61.6m in 2010.
Burgundy-based Berthaut is the leading producer of AOC Epoisses. It generated a turnover of EUR9.3m last year.
"The new AOC cheese group will bring together the commercial strategies of Berthaut and Fauquet with the organisation and reach of Bongrain's sales network," Bongrain said.
It highlighted "important synergies" in milk supplies, production, quality and innovation would result from the merger.
Sectors: Dairy, Mergers & acquisitions
Companies: Bongrain
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