French food manufacturer Fleury Michon has acquired a majority stake in Netherlands-based Marfo Food Group, a foodservice supplier to the airline industry, and also revealed two other deals.
Fleury Michon has taken a 90% share in Marfo, according to a statement, and at the same time, acquired almost 38% of the Belgium firm De Gentse Kluis, which specialises in frozen ready meals.
And in another simultaneous move, the French company has also purchased 50% of Frais Émincés, a fresh vegetable producer.
Marfo generated a turnover of EUR81m (US$92.1m) last year, mainly from airlines, and employs more than 400 people at its two production sites in the Netherlands and Belgium.
No financial details were disclosed for any of the transactions, which are subject to clearance by regulatory authorities. The deals are expected to close in July.
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Régis Lebrun, the chief executive of Fleury Michon, said: “Committed since 2014 to our mission of ‘helping people eat better every day’, we continue to deploy our strategic plan by making targeted acquisitions to accelerate our development and acquire new know-how.”
Fleury Michon said the deal for Marfo, reportedly the second-largest European caterer in the airline market, would “strengthen its activities in this sector, as well as Fleury Michon America’s position in Canada”.
“Both players could deploy new commercial synergies and offer comprehensive services to airlines operating on round-trip flights between Europe and North America,” the statement added.
With respect to Frais Emincés, that company posted sales of EUR5.9m last year and employs 40 people. Fleury Michon said the firm is in “second position in the fast-growing fresh-cut market” and plans to build a new factory in Pontchâteau in western France.