France’s beef cuts sector is in for further consolidation when the number one player in the category, Bigard, acquires the number two company in the sector, Socopa, for an undisclosed sum.
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Bigard will absorb Socopa on 1 January next year through the formation of a new company in which it will hold a controlling stake.
Bigard will hold 51% of the shares while Socopa’s former shareholders, mainly farmers’ co-operatives, will control 34% of the capital.
The new group will generate an annual turnover of EUR4.5bn (US$6.7bn) and employ close to 15,000 staff.
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By GlobalData
