France’s Savencia Fromage & Dairy plans to acquire fellow cheese manufacturer Papillon as part of the company’s strategy to extend its portfolio of original brands.
Set up in 1906, Papillon is “one of the historical manufacturers of Roquefort Protected Designation of Origin cheese” (PDO) marketed under its namesake brand, according to a statement. The company is based in Roquefort-sur-Soulzon, in Aveyron, and has been owned by the Flours family since 1998.
The deal is subject to the completion of consultations with Papillon’s employees via the firm’s Works Council of Papillon Cheese Factories. The financial terms were not disclosed.
Savencia Fromage & Dairy, which is listed on the Euronext Paris stock exchange, has marketed Papillon’s cheese products in French supermarkets since 2007.
Jean-Paul Torris, the managing director of Savencia Fromage & Dairy, commented: “It is with great pride that the prestigious Roquefort Papillon joins our local cheese platter. Our ambition is to develop its activity in France and abroad, while continuing to enhance its local presence. Our family business has always been committed to preserving and promoting French cheese know-how through original brands and PDOs, such as Berthaut, Maroilles Fauquet and Ossau-Iraty Esquirrou.”
The deal for Papillon is the first from Savencia Fromage & Dairy in more than a year. In May 2018 it snapped up US-based organic cheese business Rogue Creamery, which specialises in blue cheeses. The company had earlier increased its stake in its cheese-making venture with Tunisia’s Groupe Délice to 50% and also acquired South Korea distributor Bake Plus.
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And in 2017, Savencia Fromage & Dairy took a majority stake in Russian cheese maker OAO Belebey, a subsidiary of the Neral Group.