France-based agri-food investor Unigrains has backed hazelnut co-op Unicoque.

In a statement, Unigrains said it had “subscribed to participating securities” issued by the co-operative, which supplies food manufacturers and retailers. Financial terms were not disclosed.

The deal is part of Unicoque’s efforts to focus on “developing higher value-added products”, Unigrains said in a statement.

Set up in 1990, Unicoque brings together more than 280 growers and accounts for over 80% of France’s hazelnut production.

The company’s two production sites process nearly 10,000 tons of nuts a year. The co-op markets in-shell, shelled and processed hazelnut products. The latter includes powder, pieces, roasted hazelnuts, oils and beverages, which it sells to customers in France and abroad.

Unicoque, which employs 165 people, expects to generate roughly €40m ($44.8m) of sales in 2026, nearly half of which are forecast to come from exports.

Unigrains investment director Florence Alin said: “While France is one of the world’s leading consumers of hazelnuts it remains heavily dependent on imports, making the development of a competitive and resilient French hazelnut industry a strategic priority.”

The co-op said it is moving its business model from one historically focused on volumes towards “enhancing the value of hazelnuts and expanding its processing activities”.

CEO Jean-Luc Reigne said: “Unigrains’ support is a sign of confidence in our cooperative. It will enable us to accelerate projects already underway, to develop new market opportunities, to strengthen our processing activities and to continue to enhance the value of French hazelnuts.”

Yesterday, confectionery group Loacker announced it had expanded its hazelnut production portfolio with the acquisition of the Fontana Chiusa estate in Italy.

Combined with 275 hectares farmed in Tuscany, the deal gives Loacker direct management to around 400 hectares in the country.