French food company Groupe Glon is to become the majority shareholder in the country’s largest egg supplier Matines.
Glon, which already owns 45% of Matines, has agreed to boost its stake in the business after a deal with fellow shareholders, the co-operatives Cecab and Sicadap.
In a statement yesterday (18 April), Glon said the three owners planned to “consolidate” their egg producing and marketing operations. The companies will put the plans to staff representatives and the deal is subject to regulatory approval. The shareholders aim to finalise the deal by the end of the year.
Matines sells 1.3bn eggs to France’s supermarket sector each year under own label, plus its namesake and Mas d’Auge brands. The supplier generated sales of EUR157m (US$205.3m) last year.
Glon is majority-owned by French agri-food group Sofiprotéol, which also owns edible oil and dressings business Lesieur.