French poultry group Doux has been authorized by a French court to sell its pet food plant to German company Saria, according to reports.
The €22 million sale will bring Doux, which has currently suspended all payments to creditors and is in talks with potential buyers in an attempt to save the company, a net income of €19 million. The company said it had intended to sell the plant as it was considered non-strategic.
In the meantime, Doux is discussing the possibility of a full or partial takeover with several companies, including animal feed producer Glon Sanders, French farm cooperatives Terrena and Triskalia, and private poultry group LDC.
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