French food group specialist Tipiak has said that it is looking at “different options” for its future but has not confirmed whether a sale of the business is a possibility.
It has brought in investment bank Macquarie Capital to oversee the review process.
“Tipiak announces that it is currently studying different options strategies with the support of the investment bank Macquarie Capital with a view to pursuing the development of its activities in France and abroad,” the company said.
It declined to provide further details about what the review might entail and the likely timeframe when contacted by Just Food.
The Nantes-based company, known for its patisserie products and recipe creations, has a portfolio including prepared foods, frozen ready-made meals, pastry and dessert items, and artisan bread.
Tipiak, which is active in the retail and foodservice channels, prides itself on being a partner for chefs, with a large range of frozen ‘thaw-and-serve’ buffet food, including macarons, canapés, petits fours and mini éclairs.
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The company’s name is derived from the word for tapioca in the Amazon-based Tupi-Guaranian language.
In 2022, Tipiak recorded revenues of €239.4m ($256.4m), an increase of 13% year-on-year, while net income of €4.07m was up marginally (1.2%).
Tipiak, which was created in 1967 from the merger of two long-standing companies, Groult and Billard, has seven facilities in north-western France.
French food manufacturers are facing the same inflationary pressures as their peers elsewhere but have faced political pressure to reduce prices in the shops.
At the end of last month, the French government, in the shape of finance minister Bruno Le Maire, agreed a deal on food prices with manufacturers and retailers after two days of intense talks.
The deal will see prices frozen or cut on 5,000 products, including many food items.