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The owners of French poultry giant Groupe Doux have hit out at reports that the company could be up for sale.

Sunday newspaper Le Journal du Dimanche said yesterday (24 April) that the Doux family, which owns 80% of Europe’s largest poultry processor, was looking to sell its stake.

The Doux family had started a process to sell the business, which has debts of around EUR400m (US$574.2m), the newspaper said. It added that investment bank Lazard had already received four offers for the stake.

However, in a statement, Doux criticised the article, which the company said was “riddled with errors and inaccuracies”.

The company also stated that it has long worked with financial advisors on restructuring its debt and on the “strategic choices” for the business.

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By GlobalData