French cooperative Terrena is to buy the poultry-processing operations of local food group Unicopa, the two groups have announced.
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The deal, expected to be completed within the next two months, concerns Unicopa’s poultry-processing operations only, with Unicopa retaining its poultry-raising activities.
The merger of their poultry-processing operations is part of a wider-ranging partnership announced between the two groups that relate to the common purchasing of agricultural supplies.
Unicopa’s poultry-processing operations generate annual revenues of EUR158m (US$244.6m), employing around 800 people. These operations are to be consolidated with those of Gastronome, a subsidiary of Terrena.
According to a joint statement issued by the two groups, the merger will reinforce Terrena’s position as the number two poultry processor in the French market. Following the integration, Terrena’s poultry operations will have a turnover of more than EUR800m.
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By GlobalDataThe deal remains subject to approval from competition authorities and relevant staff representative bodies, the companies said.
Unicopa, meanwhile, has also decided to close its turkey operations, Dandy.
“Overall, these projects will allow us to concentrate our efforts on our other activities and strengthen the competitiveness of our members,” said Unicopa president Jean-Yves Le Barzic.
“They are fully in-line with our strategic choices already implemented in dairy products, animal feed and pig production. It is through such actions that we believe agriculture in the north-west [of France] can sustain its development.”
