LDC, the French poultry group, has snapped up local turkey firm Corico.

The acquisition, announced as LDC reported its annual financial results was made to improve the company's presence in the south-east of France, it said. Corico is based in the Rhône Alpes region of the country.

Corico, which generated annual sales of EUR39.4m (US$55.5m) in its most recent financial year, "specialises in slaughtering, butchering and the preparation of turkey products", LDC said yesterday (25 May).

LDC also announced a new tie-up with Spanish co-operative Alimentacion Natural, or AN Coop, to increase its presence in Spain.