France’s competition authority has approved the takeover of cooked charcuterie specialist Madrange by French food holdings group Financière Turenne Lafayette.
Exclusive talks between the two parties began last month. The value of the proposed transaction has not been disclosed.
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In 2010, Madrange posted a turnover of EUR273m (US$389.6m). It employs close to 1,100 staff.
Madrange will form part of FTL’s chilled foods division, swelling its turnover to around EUR550m and its workforce to 1,800. FTL’s revenue will rise to EUR950m.
