French agriculture co-op Terrena is looking to acquire FPG Invest, the owner of national poultry group Volatys, under its own chicken processing arm, Galliance.
The company submitted its proposed takeover of the group for review to France’s competition authority earlier this month.
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According to the filing on the watchdog’s website, the deal “concerns the acquisition of exclusive control of FPG Invest by Galliance”.
Financial details of the deal have not been revealed.
Just Food has contacted both Terrena and Galliance for more information around the pending takeover.
Terrena’s proposal is currently in ‘Phase 1’ of examinations from the market regulator, with “third party observations” due to be published by 21 December.
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By GlobalDataBased in Brittany on France’s northwestern tip, Volatys produces a range of raw chicken, turkey and duck, as well as sliced bacon, veggie burgers and cooked and breaded chicken meat and cheese bites. The group distributes to local and international foodservice, retail and manufacturer groups.
Galliance owns a number of established French poultry brands distributed across retail and horeca channels, including Douce-France, Pere Dodu, le Picoreur, Fermiers d’Acenis, La Nouvelle Agriculture, Royal Bernard, Volailles Champenoises and Gastronomie Professionnels.
In October, Terrena announced it was in “exclusive negotiations” to bag a majority stake in frozen and shelf-stable food producer Tipiak.
The group originally planned to take on 77.95% of the couscous and frozen macaron processor from a group of majority shareholders. The talks are still ongoing, but the co-op has recently revised a lower bid price of €82 ($89.49) a share for the stake.
Earlier this year, the farmer cooperative also took back 49% of shares in meat processor Elivia from the Irish group Dawn Meats. The decision was made following a disagreement between Terrena and Dawn Meats around the “future strategic direction” of the brand.
