French poultry group Tilly-Sabco now has one shareholder after Sauvaget Agro Alimentaire, its majority shareholder, gained 100% of the company.
Sauvaget Agro Alimentaire, also known as S2A, is the holding company of entrepreneur Daniel Sauvaget and already held 60% of Tilly-Sabco.
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S2A, of which M. Sauvaget is the sole shareholder, acquired the other 40% of Tilly-Sabco from French co-operative Unicopa, which had fallen into liquidation after years of financial difficulties.
S2A bought its stake in Tilly-Sabco in 2008, which went into administration in 2006 after a bird flu scare hit demand.
In a statement on the Tilly-Sabco website, the poultry firm said that its results over the past three years had put its finances “back on a sure footing” and led to the company to carry out EUR8m of investment. Tilly-Sabco’s recovery, it added, was “now assured”.
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By GlobalData
