A change in the ownership of France’s leading egg supplier Matines will not lead to site closures, food company Groupe Glon, its soon-to-be majority investor, has told just-food.
Glon, which already owns 45% of Matines, has agreed to boost its stake in the business after a deal with fellow shareholders, the co-operatives Cecab and Sicadap.
The three companies have packaging plants that have individually supplied Matines, which sells 1.3bn eggs to France’s supermarket sector each year.
The deal, which the shareholders hope to finalise by the end of the year, will see Matines’ operations “optimised”.
A spokesperson for Glon and its owner, French agri-food business Sofiprotéol, said the shake-up would make the supply base into Matines more flexible. Packing sites had, until now, served regions exclusively.
“No site has to close,” the spokesperson said. “The businesses will save money via logistics. Here is a theoretical example: if Glon had an order in and around Lyon and Cecab had a site in the region, Glon could only supply from its sites, say, in Brittany. The changes will make the sites more responsive to meet demand for shell eggs.”
It is not yet clear the exact stake Glon will own in Matines. The spokesperson said the shareholders had to wait until France’s competition watchdog ruled on the deal.
Matines sells eggs to French retailers under own label, plus its namesake and Mas d’Auge brands. The supplier generated sales of EUR157m (US$205.3m) last year.
As well as Glon, Sofiprotéol also owns assets including edible oil and dressings business Lesieur.