FRANCE/SPAIN: Doux in talks to sell Spanish arm
Embattled French poultry group Doux is in exclusive negotiations with Catalonia-based Valls Companys to sell its Spanish subsidiary, Doux Iberica.
Doux said the talks are expected to run until the end of the month and that the sale of the subsidiary, whose assets encompass two abattoirs, an egg-laying facility, an animal feed plant and two temperature-controlled warehouses, has not been finalised.
The sale of the Spanish subsidiary, which last year generated a turnover of EUR100m and employs 385 staff, conicides with Doux closing four abattoirs in France and a restructuring programme entailing almost 650 job cuts.
Doux said that the planned divestment is in line with a group re-focus on the French market and in particular, on the fresh poultry products segment.
With a turnover of almost EUR800m and headquartered in Lérida, Valls Companys, specialises in animal flours and pork processing.
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