Belgian potato products manufacturer Agristo is planning to invest €350m ($369m) to buy and expanding a production site in northern France, its first venture in the country.
The French fries maker is intending to buy a facility in Escaudoeuvres from sugar producer Tereos which closed in March. Financial details relating to the transaction have not been disclosed
An Agristo spokesperson told Just Food the site is expected to be operational in mid-2027. Agristo is currently preparing to carry out a feasibility study on the site.
The investment will be mainly spent on new machinery and new buildings.
“This investment fits within Agristo’s growth plan,” said Hannelore Raes, co-CEO at the potato manufacturer.
“We want to continue to develop in a growing market. That’s why we are continuing to invest in the existing production sites at the same time.
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“This site has a 150-year history in the agri-food industry. We are happy to continue this with a modern, sustainable production site where we will call on the expertise of French potato growers.”
Agristo plans to make a variety of cut and formed frozen potato products in the facility.
“For the producer of frozen potato-inspired products, expansion just across the border is a logical choice. France is already showing itself as an important market for the family business,” the business said in a statement.
Agristo said it “foresees smooth cohesion and great complementarity” with its three production facilities in Wielsbeke, Harelbeke and Nazareth in Belgium and one in the Netherlands.