D’Aucy, part of French agri-food co-operative Cecab and best known for its canned vegetables brand, has announced the sale of its puff pastries, ready-to-bake pastry and snack-making subsidiary, Cobral, to local bakery group, Les Fromentiers de France.
Cobral has an annual turnover of EUR14m (US$16m) and employs 116 staff. Its products are sold in supermarkets, specialised frozen good stores, on-trade outlets and in export markets. D’Aucy posted a 2016 turnover of EUR1.2bn. The value of the transaction has not been disclosed.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
D’Aucy said relinquishing Cobral would allow it to re-focus on its core business of canned and frozen vegetables, ready meals, eggs and egg-based products and pork.
The change of ownership would offer Cobral “new opportunities” for development while allowing Les Fromentiers de France to “accelerate in the bakery snacking segment”.
Toulouse-headquarted Les Fromentiers de France operates as an industrial bakery and retailer, employing more than 300 staff and generating an annual turnover of EUR36m. Part of the family-owned JL Vilgrain food group, it has around 100 boulangerie outlets across France, more than two-thirds of which are franchised.
