The head of Cooperl Arc Atlantique has warned of the likelihood the French pork major will have to close production plants if it has to pay a fine of EUR35m for its alleged part in a price-fixing cartel.

Cooperl has pleaded innocence and lodged an appeal against the fine.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

CEO Emmanuel Commault told just-food: “Not only do we contest this fine, but above all we believe it threatens the future of the group by making us lose the confidence of our bankers and especially of the credit insurers in a context of the [Covid-19] health crisis. The downgrading of our rating would cost us an additional EUR100m.

“The only solution would be to freeze all recruitment, all investments but also to close two to three processing sites out of the 12 we have in France. This is not a threat to take lightly.”

France’s Ministry of Economy and Industry said it was “particularly vigilant” about Cooperl’s financial situation and had been working since the summer to ensure all of the group’s financial partners maintain their commitments.

It noted Cooperl and its subsidiary, Brocéliande, had lodged an appeal against the fine at the end of last month and, while awaiting the verdict, intend to file a petition with the Paris Court of Appeal to obtain a stay of execution of the decision of France’s competition authority over the payment of the fine.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“In the absence of a decision to suspend enforcement, the competent services of the General Directorate of Public Finance will initiate enforcement, under time conditions compatible with the Cooperl group’s ability to pay so that the fine does not represent a risk to the group’s activity and the employment of its staff,” the ministry said. “The group can count on the commitment of the Ministry to ensure the continuity of its activities and employment.”

Last year, Cooperl posted profits of EUR29m based on EUR2.4bn in revenues.