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.
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.
