French cold meats firm Aoste, part of Spain’s Campofrio, has made a bid to acquire loss-making family-owned ham and charcuterie specialist Madrange.
Madrange was not available to comment on Aoste’s takeover plan which was presented today to a government committee on industrial restructuring.
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Aoste wants to merge the cooked ham activities of its subsidiary Jean Caby with Madrange into a separate unit, with the Madrangeas family holding a minority stake, a source close to the talks confirmed.
The new unit would specialise in own-label ham, a segment in which Jean Caby and Madrange each hold a 20% share of the French market. The merged operation’s scope, with annual turnover of EUR470m, could expand to include own-branded cocktail sausages and pâtés.
The source said there was likely to be other candidates bidding for Madrange but did not disclose who they might be.
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In 2009, Madrange entered into takeover talks with French food holding company Financière Turenne Lafayette, which owns the Paul Predault ham brand but the sell-off plans were dropped.
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By GlobalDataTurenne Lafayette is said to be in frame again but the company declined to comment.
