D’Aucy, part of French agri-food co-operative Cecab and best known for its canned vegetables brand, has announced the sale of its puff pastries, ready-to-bake pastry and snack-making subsidiary, Cobral, to local bakery group, Les Fromentiers de France.
Cobral has an annual turnover of EUR14m (US$16m) and employs 116 staff. Its products are sold in supermarkets, specialised frozen good stores, on-trade outlets and in export markets. D’Aucy posted a 2016 turnover of EUR1.2bn. The value of the transaction has not been disclosed.
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D’Aucy said relinquishing Cobral would allow it to re-focus on its core business of canned and frozen vegetables, ready meals, eggs and egg-based products and pork.
The change of ownership would offer Cobral “new opportunities” for development while allowing Les Fromentiers de France to “accelerate in the bakery snacking segment”.
Toulouse-headquarted Les Fromentiers de France operates as an industrial bakery and retailer, employing more than 300 staff and generating an annual turnover of EUR36m. Part of the family-owned JL Vilgrain food group, it has around 100 boulangerie outlets across France, more than two-thirds of which are franchised.
