French food holdings group Financière Turenne Lafayette (FTL) is in exclusive talks to buy cooked charcuterie specialist Madrange.
Following discussions held under the auspices of a government committee on industrial restructuring, Madrange is set to be acquired by the Limougeoise de Salaisons, a 100% subsidiary of FTL. The value of the proposed transaction has not been disclosed.
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In 2009, Madrange entered into takeover talks with FTL, which owns the Paul Predault ham label and one of France’s leading tinned meals brands, William Saurin, but the sell-off plans were dropped.
Last month, just-food reported that French cold meats firm Aoste, part of Spain’s Campofrio, had made a bid to purchase Madrange.
However, Madrange said on Wednesday (1 June) that it “favours a 100% French solution which preserves the group’s production facilities”.
Madrange is set to become part of FTL’s chilled foods division, swelling its turnover to around EUR550m (US$796.6m) and its workforce to 1,800. FTL’s global turnover will rise to EUR950m.
In 2010, Madrange posted a turnover of EUR273m. It employs close to 1,100 staff.
The president of Madrange’s board, Roland Wolfrum, will remain at the helm.
