French agri-food co-ops Euralis and Maïsadour have ended plans to merge.

In a joint statement, the company said a “deterioration” in the economic climate meant they had decided to step back from the deal.

Euralis and Maïsadour first unveiled plans to combine their businesses in March last year after an earlier attempt to merge operations in foie gras, salmon and direct sales was ditched in 2023 due to opposition from competition officials.

In July, France’s competition watchdog conditionally approved the latest deal.

However, in a statement issued yesterday (1 October), Euralis and Maïsadour pointed to the broader trading backdrop for their decision to abandon the transaction.

“Given the agricultural and economic climate, which has deteriorated further in recent months, the conditions required to finance the proposed merger between Euralis and Maïsadour have not been met,” the statement read.

“Consequently, the project as originally conceived cannot proceed. This situation does not alter our conviction regarding the merits of a merger between our two cooperatives. On the contrary, the challenges currently facing the agricultural sector underscore, more than ever, the need to strengthen our business models and supply chains.”

They added: “We will therefore work together on the next steps of our shared vision. In the meantime, both co-operatives remain fully focused on their respective strategies and operational performance, working alongside farmers.”

Euralis and Maïsadour, which are both based in south-west France, collectively represent more than 10,000 member farmers.

With roots dating back to 1936, Euralis produces and processes foie gras and duck products under brands such as Maison Montfort and Rougié. The company also owns the Teyssier line of charcuterie. It generated turnover of €1.6bn ($1.79bn) in its 2024/25 financial year.

Maïsadour, which traces its founding to the same year, owns the food brand Delpeyrat for smoked salmon and trout, foie gras, duck products and pâtés.

The company’s Comtesse du Barry line includes caviar, truffles, terrines and rillettes, while the co-op supplies poultry products under the St Sever and Marie Hot brands.

The co-op booked turnover of €1.41bn in the year to the end of June 2025.