French processed vegetables group Bonduelle has taken a 13% stake in Canadian counterpart Aliments Carrière.
The JV agreement makes provision for Bonduelle to gradually increase its shareholding to 25% between June and October 2006.
Controlling more than 70% of the domestic market for canned and frozen vegetables, Aliments Carrière has seven processing plants, four in Québec and three in Ontario and employs 800 staff.
In the financial year to end-April 2006, the company posted a turnover EUR210m (US$264.22m), of which 40% was accounted by its canning activities and 60% from its frozen products in Canada and the US.
Aliments Carrière has its own frozen goods brand, “Artic Gardens”, and also produces retailers own brands. Sixty percent of sales are generated in the supermarket sector.
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