French poultry processor LDC is to snap up slaughterhouse and processing assets from local agri-food group Sofiproteol.
Sofiproteol is to sell the poultry slaughterhouse and processed products activities of its animal products division to LDC.
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The assets comprise five sites generating sales of EUR310m and employing 1,000 people. They will be combined with six LDC sites in Britanny to form a new company: Societe Bretonne de Volaille. LDC will also acquire a site in Blancafort in central France.
LDC said more than EUR100m will be invested over five years at all the sites. It said one aim of the deal was to allow France to reduce its reliance of imports, which stands at 42%.
Denis Lambert, chairman of LDC said: “Our planned alliance constitutes a strong signal to the French poultry sector. It reflects the mobilisation of two major actors in the food industry who wish to focus on a common goal, which is to ensure that long term, this sector can win back domestic markets and develop internationally.”
The deal will see Sofiproteol become a shareholder in LDC. Sofiproteol said it would take a “marginal holding” in LDC and a seat on its supervisory board.
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