France's Avril in talks with Bigard group to sell two pork firms (updated)
28/09/2021 11:11
(Adds detail)
PARIS, Sept 28 (Reuters) - French agri-food group Avril said
on Tuesday it was in exclusive talks with meat group Bigard to
sell its majority stakes in pork processing companies Abera and
Porcgros.
Avril said in April it had decided to withdraw from the meat
sector to focus acquisitions and investment in its core
plant-based business and take advantage of a surge in demand for
alternatives to meat. urn:newsml:reuters.com:*:nL8N2M62PE
Created by French oilseed and protein crop growers, Avril is
the European Union's largest biodiesel maker and a leader in
animal nutrition, cooking oil and plant-based chemical products.
The group had sales of 5.8 million euros ($6.8 million) in 2020.
Bigard is Europe's third largest meat processor with a
turnover of 4.5 billion euros, according to its website.
Abera had sales of 256 million euros last year. Its two main
activities are pig slaughtering and pork butchery. Porcgros is a
pork wholesaler specialised in meat cutting and processing,
based in the Rungis food market near Paris.
The sale of Abera and Porcgros is subject to consultation by
employee representatives from the two companies and competition
authorities' approval, Avril said.
($1 = 0.8537 euros)
(Reporting by Sybille de La Hamaide, additional reporting by
Gus Trompiz; editing by Barbara Lewis)
((Sybille.deLaHamaide@thomsonreuters.com; +336 8774 4148;))