French poultry processor Duc has snapped up local snack firm Cobral for an undisclosed sum.
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Duc, which announced the deal today (6 December), said it has also set up a poultry joint venture in Bulgaria with local firm SVS 98.
The company said it hopes both these moves will help it return to profitability. It is targeting sales of EUR160m this year.
Duc said Cobral, which generates annual sales of EUR27m (US$39.5m), operates from two sites in Lorient et Pontivy.
“The potential synergies between Duc and Cobral are very high, both in terms of geography, purchasing power, as well as the sharing of costs and logistics structure,” Duc said.
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By GlobalDataDuc will hold a 40% stake in the Bulgarian venture, it added.
