LDC, the France-based poultry processing major, has finalised the acquisition of local peer Lionor.
The company, which said in January the two companies were in talks over a possible deal, confirmed yesterday (6 April) they had reached an agreement. Financial details were not disclosed.
Lionor, based in Steenbecque in France’s Hauts-de-France region, generated a turnover of EUR47m (US$49.9m) in its 2015/2016 financial year, LDC said. The company employs 160 staff.
“The completion of this move allows LDC to help the regional development of Lionor by responding to demand for local products, building on its existing production,” LDC said.
The news came alongside the publication of LDC’s sales for the 12 months to the end of February. LDC said its revenue rose 2.9% during the year, or by 1.3% on an underlying basis.
LDC, meanwhile, also disclosed it is in talks to buy Couvoir Perrot, a French breeder of broiler chicks.