Elivia, the beef and pork business of Terrena, has reached an agreement to acquire four processing plants from French market leader Bigard.
The plants, which will be transferred to Elivia in May, produce almost 50,000 tonnes of fresh and frozen meat products annually. Collectively, they generate a turnover of EUR200m (US$271.7m) per year.
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The sale was prompted by an order for Bigard to dispose of the plants from France’s competition authority following the company’s purchase of Socopa in 2008.
Terrena announced plans to invest over EUR60m in upgrading Elivia’s 14 existing production plants in December.
The company said that it wanted to become a “solid number two” in pork and beef in France, behind Bigard, and expand in Europe.
The financial details of the transaction were not disclosed.
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