InVivo Group, a leading national French agricultural cooperative group operating in several key countries, and Soufflet Group, a French family group in food and agriculture of international scale, announced that they have entered into exclusive negotiations regarding the acquisition of 100% of Soufflet Group’s capital by InVivo Group.
Soufflet is an international cereal buyer in Europe. Malteries Soufflet, a subsidiary of Soufflet Group, is one of the biggest malting companies in the world and owns and operates malt houses in Europe, Latin America and Asia.
With combined revenues of nearly 10 billion euros, about half of which would be generated outside France, and more than 12,500 employees worldwide, this new Group would have a strong positioning both in France and internationally, operating more than 90 industrial sites, including 59 sites in France. Reaching such a critical size would offer a unique opportunity for an undisputed French champion to develop and provide, together with its agricultural and industrial partners, sustainable solutions to address these challenges and ensure their implementation at large scale, while strengthening its position vis-à-vis the European and international competition. Both would be based on significant investments in innovation, the ecological transition as well as the agronomic and digital transformations of the agricultural and agribusiness sectors.
The employee representative bodies of both Groups have been informed of this project and an information-consultation procedure would soon be launched. The combination of the two Groups would be subject to the prior authorization of the competent anti-trust authorities. The transaction could be finalized by the end of 2021.