French food co-op CECAB is reported to be ready to sell pork processing arm Louis Gad, in which it acquired a majority stake at the start of the year.
Reports have claimed that the co-op has been looking to exit the pork processing segment for months due to competition from Germany and tumbling prices.
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However, when contacted by just-food, a spokesperson from CECAB declined to comment.
Reports have also claimed that Cooperl Arc Atlantic, France’s biggest pork processor, and beef company Bigard have shown an interest in Louis Gad.
A spokesperson for Cooperl confirmed the company was “studying the Louis Gad file” and added: “This could lead to us considering the submission of an offer but we are not there yet.” Bigard, meanwhile, refused to be drawn on the reports.
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Louis Gad, which has annual sales of EUR700m and employs 2,500 staff, is reported to be under the assessment of a French government committee on industrial restructuring.
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By GlobalDataHowever, a Ministry of Industry spokesman was unable to confirm that this was the case.
