Brittany : Terrena to Take Over Doux

Finance
Doux will be taken over by Terrena
Doux will be taken over by Terrena
The headquarters of the group Doux poulterer Chateaulin in Brittany. – Fred Tanneau AFP

Announced in May, the transfer could be effective in January …

Beset by serious financial difficulties in recent years, Doux will change hands.  The Breton poulterer should indeed complete the move in January  to the agricultural cooperative group Terrena, said Arnaud Marion, CEO of poulterer, in an interview for Le Telegramme. “There will be no social impact, the Doux Group will be remaining an autonomous entity and specialized,” said Arnaud Marion.

The group achieved a turnover of EUR 252 million in the first six months of the year and recorded a net profit of 7 million euros. “This is a huge performance for a company which was in receivership, but there is still a very long way to go” said the CEO.

Receivership and suppression of jobs

With the sale of Doux to the group Terrena, D & P Investments, a subsidiary of the holding company of Calmels family, will transfer all of its shares, or 52.5%, to the cooperative group based in Ancenis in the Loire-Atlantique.  After the operation, Terrena will hold the majority of the capital, alongside the current major shareholders:  the Saudi group Almunajem (25%), the main customer poulterer and the Doux family (22.5%) .

Third largest poultry supplier with more than 450 million euros in turnover in 2014, Doux is present on two main markets: the largest poultry exporter, particularly to the Middle East, and processed products, mainly Père Dodu brand.  Doux was placed in receivership in June 2012, due to large debts.  During being receivership, they had removed nearly a thousand jobs before establishing a continuation plan, which was approved in November 2013.

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