View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 3, 2021

Dairy group Sodiaal issues shares to “accelerate investment”

The France-based co-operative, home to brands including Candia and Entremont, has announced two new investors to help "accelerate investment".

By Dean Best

Sodiaal, the French dairy co-operative, has secured backing from the finance arm of local agri-food group Avril and Crédit Agricole to help the Candia milk owner push on with investment.

Free Report
img

VC funding trends to watch out for in Consumer

Consumer industry investors across the world are betting big on the ESG trend to pick up in the future and are focusing on backing the start-ups and emerging companies working in the meat-alternative products category.   The top two deals in this category were the $500 million investment raised by Impossible Foods and the $347 million investment deal for Future Meat Technologies.  GlobalData’s Venture Capital Investments – Consumer 2021 will help you dive into the capital raising landscape across regions and themes.  Use the report to identify emerging signals and trends across Consumer, formulating winning strategies for the road ahead.   
by GlobalData
Enter your details here to receive your free Report.

Sofiprotéol, the investment arm of eggs and cooking oil supplier Avril, and Crédit Agricole subsidiary IDIA Capital Investissement have “jointly subscribed” to an equity issue at Sodiaal. Terms were not disclosed.

In a joint statement, the companies said the move “strengthens the financial structure and equity of the leading French dairy cooperative in order to support its growth”.

The statement continued: “Thanks to the joint investment of these two new financial partners, Sofiprotéol and IDIA Capital Investissement, the dairy cooperative now has enhanced resources to continue deploying its new strategy and accelerate its investment programme.”

Sodiaal declined to comment further when approached by just-food.

The statement announcing the equity issue said Sodiaal had been undertaking a “profound transformation” since 2017 to try to sell more higher-value products.

Late in 2017, Sodiaal unveiled #Value, a strategy to focus on making the business more upmarket and generating organic growth of EUR500m (US$602.8m) between 2017 and 2025, as well as boosting the share of sales its international markets make to 35% from 29%.

On the new investment, announced yesterday (2 March), Sodiaal CEO Jorge Boucas said: “In IDIA Capital Investissement and Sofiprotéol, we are delighted to have with us partners from the agricultural and agrifood world who are committed to the long term, who support us with their sector expertise and build a privileged, lasting relationship, based on mutual trust and listening.”

Among Sodiaal's interests are shareholdings in international yogurt business Yoplait. In October, according to reports in France, fellow Yoplait shareholder General Mills had asked Morgan Stanley to advise the company on its options on the business.

General Mills acquired 51% of Yoplait in 2011 in a multi-faceted deal. The Old El Paso meals and Nature Valley snack bars owner owns 51% of Yoplait SAS and 50% of a second entity – Yoplait Marques SNC – that owns the Yoplait and associated trademarks. The marks are licensed to Yoplait SAS.

The other shareholder in both entities is French dairy co-op Sodiaal, which supplies milk to Yoplait SAS.

According to Les Echos, Sodiaal has the right of first refusal on the General Mills shareholdings.

Related Companies

Free Report
img

VC funding trends to watch out for in Consumer

Consumer industry investors across the world are betting big on the ESG trend to pick up in the future and are focusing on backing the start-ups and emerging companies working in the meat-alternative products category.   The top two deals in this category were the $500 million investment raised by Impossible Foods and the $347 million investment deal for Future Meat Technologies.  GlobalData’s Venture Capital Investments – Consumer 2021 will help you dive into the capital raising landscape across regions and themes.  Use the report to identify emerging signals and trends across Consumer, formulating winning strategies for the road ahead.   
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food