French co-operative Agrial has raised around EUR95m (US$126.9m) on the Paris stock exchange’s private bond Euro PP market to finance international expansion.
A company official declined to elaborate on what projects the funds would target as these would be undertaken between 2015 and 2018. He confirmed, however, they would concern dairy products and vegetables, “two sectors in which we are looking to develop”.
Earlier this year, Agrial and another French co-operative, Eurial, announced the merger of their dairy activities, leading to the creation of France’s second-largest
co-operative group in the sector behind Sodiaal.
Preparatory work and the implementation of the merger is underway and will continue into 2014.
Combined sales from Agrial and Eurial’s dairy businesses totals just under EUR2bn and its downstream activities span goat’s cheeses, ultra-fresh dairy products, and cheese ingredients, in particular, mozzarella.
Outside of the dairy sector, Agrial’s brand portfolio also includes Florette, Danao fruit juice, Créaline soup and Loïc Raison cider.