Terrena, Sofiproteol may buy majority of Doux shares

Terrena, Sofiproteol may buy majority of Doux shares

From WATTAgNet:

French companies Terrena and Sofiproteol are in talks to acquire a majority stake in Doux, a leading French poultry company. If the talks come into fruition, Terrena would acquire a 52.5 percent stake in Doux, with Sofiproteol as a minority partner.

Financial terms of the proposed transaction have not been disclosed.

Doux, which had experienced major financial problems in 2012, spent time in court administration and faced the loss of EUR60 million (US$70.7 million) in export subsidies annually.  Doux has since re-emerged and has embarked on an investment plan that the company’s leaders said should give it a more stable future and enable it to increase its share of export markets.

Terrena, according to the WATT Global Media Top Companies Database, is a major French cooperative involved in a range of agricultural industries, including poultry and animal nutrition. The group ranks among the leading manufacturers of feed for livestock in western France and optimizes its production according to the needs of farmers and consumers.

Sofiproteol, a French oilseed investment firm, was previously identified as a company that in 2012 had submitted a takeover bid for the then-troubled Doux.

Terrena in talks to acquire French poultry exporter Doux

French agricultural co-operative Terrena and oilseed investment firm Sofiproteol are in talks to acquire a controlling stake in poultry exporter Doux. Doux produces and exports poultry and poultry-based processed products for retail, food service and catering industries in Europe, the Middle East, and internationally.
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