French food co-op CECAB and its pork processing arm Prestor are staying silent on reports that they have acquired local pork processing firm Louis Gad.
In 2007, CECAB, via Prestor, formed an alliance with Gad to create a new industry giant that spanned breeding, slaughtering, processing and international trading. However, no mention was made of a takeover of Gad nor of plans for a capital stake.
Prestor president Guillaume Roué told just-food at the time that the new group would have the size and scope to compete at the European level. Generating an annual turnover of EUR725m (US$938.2m), some 680 breeders would supply up to 2.2m pigs towards an output of 368,000 tonnes a year.
Contacted by just food today, Roué declined to comment on the reports that CECAB and Prestor between them now owned 100% of the capital of family-owned Gad, having previously held a 34% shareholding. Gad also remain tight-lipped.