Belgian food distributor Colruyt has agreed to acquire 100% of the shares in French-based Sa Cidufrais through its subsidiary Pro à Pro Distribution.
The acquisition will be completed by 31 January, the company indicated.
Sa Codifrais is a wholesale business specialising in fresh produce, primarily dairy. In fiscal 2005-6 the company posted turnover of EUR40m (US$52.6m).
Colruyt said that the acquisition will allow Pro à Pro Distribution to increase its turnover in the institutional catering sector. “The acquisition of Sa Codifrais is a starting point for the future development of Pro à Pro Distribution’s operations in the Paris region,” the company said.
Pro à Pro, a French holding company, brings together hypermarket, supermarket and contract catering operations. Its consolidated turnover exceeds EUR450m and its equity totals EUR67.8m.
Further terms of the transaction were not disclosed.