French prepared salad dishes specialist Pierre Martinet has bought family-owned rival La Belle Henriette.
The deal was concluded via a cross-shareholding agreement that will see La Belle Henriette’s owner Passion-Petigas take just over 10% of Pierre Martinet.
Based in western France, La Belle Henriette employs 120 staff and operates two production plants. With a turnover of EUR27m for the current year, it has an annual output of 16,000 tonnes.
M. Pierre Martinet, the president of the namesake firm, said the deal “consolidates our position as market leader in France and number two in Europe”.
He added: “The synergies it will generate (in particular, in terms of purchasing and logistics) will provide us with greater scope to meet customers expectations in a French market recording 6% growth annually.”
Martinet’s company is expected to generate a turnover of EUR106m this year.
Its main plant is a 20,000 sqm facility in Saint-Quentin-Fallavier, in south-east France while it also operates two smaller units nearby and another in the central region of the country.