The Chamber of Commerce (CCI) in the French town of Morlaix has taken temporary control of poultry exporter, Tilly-Sabco Bretagne, which was saved from liquidation at the end of last year.
The CCI, which already has a 33% stake in the company, has acquired the 33% shareholding owned by Breizh Algae Invest for EUR500,000. The UK’s MS Foods also holds a 33% stake in Tilly-Sabco.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Explaining the departure of Breizh Algae Invest, the CCI said “the lack of a common vision on strategy has led to a delay in investment plans which could be prejudicial to the company”.
Breizh Algae Invest will continue to collaborate with Tilly-Sabco “in the development of chicken bred with anti-biotics and fed on seaweed,” the CCI added.
The CCI underlined taking control of Tilly-Sabco was “temporary” and designed “to allow for the arrival of other investors and the implementation of investment plans necessary to the firm’s long-term well-being.”
Tilly-Sabco’s plant processes almot 85,000 frozen chickens daily, which are sold to markets in the Middle East.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe CCI, has a EUR6m intervention fund at its disposal and has announced it will launch first-phase investment of EUR2.5m, targeting the creation of a production line dedicated to fresh chickens, in order to diversify the company’s markets, notably in Europe.
