French supermarket chain Intermarché has cooled claims a bid for Gad, one of France’s leading pork processors, is imminent.
Gad today (22 August) told its works council it had filed for liquidation with a commercial court in Rennes.
Go deeper with GlobalData
Earlier this month, Gad told just-food it was hoping the court would order the liquidation of the company while granting a two-month reprieve during which it would continue to trade, as well as providing breathing space to finalise a takeover bid.
This week, French Agriculture Minister, Stephane Le Foll, told Gad union representatives Intermarché would submit a bid or Gad by the end of August or at the latest early September, raising hopes the company would be saved.
However, Intermarché said today it was “premature to consider a firm offer will be made soon”.
See Also:
“We are at a preliminary stage of proceedings where information is gathered within the framework of a possible takeover bid,” Intermarché subsidiary SVA Jean Rozé said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
