Sofiprotéol, the investment division of the French agri-food company Avril Group, has purchased a partial ownership interest in the vinegar producer Martin-Pouret.
Specifics regarding the financial terms of the transaction were not revealed.
The investment aims to expedite the development of Martin-Pouret’s new vinegar production facility, which is due to open in September 2024.
Commenting on the news, Violaine Grison, co-head of investment at Sofiprotéol, said the funding will support the vinegar group’s “growth ambitions”, with the new factory helping to “boost the company’s local roots.”
She added, “Supporting entrepreneurs, playing a role in the development of SMEs in our regions and ensuring the know-how of our companies is preserved over the long term are at the heart of Sofiprotéol’s mission”.
In September, reports from France revealed that the new facility, with a construction cost of approximately €7.6 million, is set to be situated in Boigny-sur-Bionne within the Orléans district.
Spanning across 10,500 square meters of land, the factory is expected to feature a surface area of 4,800 square meters, as reported by the national newspaper La République du Centre.
The upcoming facility is anticipated to have a “favorable impact on employment” and enhance the “appeal” of the region.
Martin-Pouret stated that the vinegar facility will initially “generate two to four additional jobs.”
Established in 1797, Martin-Pouret is purportedly the sole company in France with the expertise to “proficiently execute the traditional Orléans vinegar-making method,” employing grapes sourced from local wine regions.
Since 2019, David Matheron and Paul-Olivier Claudepierre have co-owned the group.
The vinegar collection of Martin-Pouret encompasses a variety of unflavored and flavored red and white wine vinegars, Normandy cider vinegar, along with Modena balsamic vinegar and dressing.
Additionally, the company manufactures mustard, ketchup, mayonnaise, pickles, and appetizer dips.
Its products are available in a blend of specialty retailers, delis, and restaurants throughout Europe, as well as in the United States, the United Arab Emirates, and New Zealand.
Speaking in a statement, Paul-Olivier Claudepierre and David Matheron, Martin-Pouret’s business partners said, “Sofiprotéol has perfect knowledge of our trade, shares our vision of responsible, high-quality food, and promotes French manufacturing”.
Among Sofiprotéol’s investment portfolio are eight consumer food companies, including the packaged salads producer Pierre Martinet, in which it acquired a 16% stake in 2019.
Over the recent years, Avril has disclosed several investments, including its acquisition of a majority stake in the French plant-based food manufacturer Hari&Co in July.
In its integrated results for 2022, the group reported a 30% growth in revenue, rising from €6.9 billion to €9 billion, with EBITDA increasing from €356 million to €583 million. The total investments made by the group last year amounted to €303 million.
