Menguy’s, a France-based supplier of nuts and popcorn, is in exclusive discussions with local cooperative Océalia to sell a stake in the business.
A spokesperson for St. Jean-based Menguy’s confirmed to just-food that talks between the two parties are ongoing with a decision expected by the end of the year, although specific details about how much of the business would be sold by the owners, the Cormouls-Houles family, could not be divulged.
Menguy’s was founded in 1987 and its product range includes aperitifs such as peanuts, cashews and almonds, popcorn and prepared olives.
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The spokesperson said discussions with employees had taken place in July and the company was obliged to disclose certain details of the negotiations with Cognac-based Océalia to the media under local regulations.
Menguy’s generated a turnover last year of EUR175m (US$194.2m) and employs 275 people, according to French media reports, adding that Océalia had sales of EUR543m in 2017-2018.
