Fri, 22 May 2015
FRANCE - Terrena, supported by Sofiprotéol as minority shareholder, has signed an exclusive agreement with D&P Participations, a subsidiary of the Calmels family’s holding company, to buy its 52.5 per cent controlling interest in Doux Group.
Third biggest French poultry producer with 2014 revenue of €457 million, Doux operates in two major markets: large scale export of poultry, principally to the Middle East, and processed products, mainly under the Père Dodu brand.
The exclusivity period will be used to finalise a draft agreement for the deal subject to the required approvals and informing and consulting employee representatives.
Following the transaction, Terrena, supported by Sofiprotéol as minority shareholder, will hold a controlling equity stake in Doux alongside the current principal shareholder.
Through this agreement the partners plan to take advantage of a growing market for poultry driven by buoyant world consumption, and to take an active part in the consolidation of the competitive poultry export industry while adding value for French poultry farmers.