Terrena, a French agricultural cooperative, is seeking to purchase FPG Invest, the parent company of the national poultry group Volatys, through its chicken processing division, Galliance.
Earlier this month, the company presented its proposed acquisition of the group for examination by France’s competition authority.
According to the filing on the watchdog’s website, the deal “concerns the acquisition of exclusive control of FPG Invest by Galliance.”
The financial specifics of the agreement remain undisclosed.
Terrena’s proposal is currently undergoing ‘Phase 1’ examinations by the market regulator, and the publication of “third-party observations” is scheduled by 21 December.
Situated in Brittany on the northwestern tip of France, Volatys manufactures a variety of raw chicken, turkey, and duck products, along with sliced bacon, veggie burgers, and cooked and breaded chicken meat and cheese bites. The group supplies to local and international foodservice, retail, and manufacturer groups.
Galliance possesses several well-established French poultry brands that are distributed through retail and HORECA channels. These brands include Douce-France, Pere Dodu, le Picoreur, Fermiers d’Acenis, La Nouvelle Agriculture, Royal Bernard, Volailles Champenoises, and Gastronomie Professionnels.
In October, Terrena revealed its involvement in “exclusive negotiations” to acquire a majority stake in Tipiak, a producer of frozen and shelf-stable food.
Initially, the group intended to acquire 77.95% of the couscous and frozen macaron processor from a consortium of majority shareholders. Although discussions are ongoing, the cooperative has recently adjusted its bid to a reduced price of €82 ($89.49) per share for the stake.
Earlier this year, the farmer cooperative also regained a 49% share in the meat processor Elivia from the Irish group Dawn Meats. This decision was made following a disagreement between Terrena and Dawn Meats regarding the “future strategic direction” of the brand.
