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.
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.
