The merger of the dairy activities of French co-operatives Agrial and Eurial could be extended with a deal with a third co-op, Coralis.
The three parties are in talks over a transaction that would see Coralis absorbed in its entirety by Agrial as a preliminary move.
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Agrial and Eurial announced in January they were looking to combine their dairy assets. France’s competition authority has given its approval for the two co-ops to exchange shareholdings.
Coralis said it was entering into “exclusive negotiations” with the two parties “aimed at building a strong and sustainable co-operative grouping in western France”.
Over 60% of Coralis’s turnover of EUR350m is generated by dairy, the remainder in the collection of cereals and processing into animal feedstock. It produces UHT milk, butter and cream under the Agrilait brand.
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Combined sales from Agrial and Eurial’s dairy activities total just under EUR2bn, which span goat’s cheeses, ultra-fresh dairy products, and cheese ingredients.
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