French group LDC takes majority stake in Gressingham Foods

French poultry elephantine LDC has bought a bulk involvement successful the UK-based duck concern Gressingham Foods.

The transaction has been struck done Green Label Holdings operated by the Buchanan family, the owners of Gressingham Foods.

Publicly-listed LDC did not disclose the fiscal presumption nor the size of the involvement successful a statement, which described the woody arsenic a “strategic partnership”.

“This acquisition supports LDC's planetary strategy by expanding its beingness successful the United Kingdom alongside its Welsh subsidiary and its European imports, enabling a broader offering to UK customers,” the French poultry supplier said successful the statement.

While duck is the mainstay of Green Label, the concern besides supplies poultry products, some nether the Gressingham brand. The institution operates its ain farms covering much than 250,000 quadrate metres and accounting for astir 50% of its poultry nutrient requirement, according to the statement.

Originally acceptable up by Maurice and Miriam Buchanan successful 1971, Gressingham Foods’ branded portfolio besides features turkey, goose and guinea fowl. Headquartered successful Diss, successful Suffolk successful the eastbound of England, the institution supplies the large UK retailers and the foodservice channel.

The concern is present successful the hands of the 2nd procreation led by William and Geoff Buchanan.

They added: “We are delighted to spouse with LDC arsenic we proceed to put successful our farming and manufacturing businesses to turn and make the poultry markets successful the UK.

“This is simply a arrogant infinitesimal for everyone astatine Gressingham, gathering connected implicit 50 years of household values and contented since our begetter Maurice started the concern successful 1971.”

Otherwise trading arsenic Lambert Dodard Chancereul, family-owned LDC generates a turnover of €6.3bn ($7.3bn). It operates crossed 105 accumulation sites and, arsenic good arsenic France and the UK, has a beingness successful Germany, Belgium, Poland, Romania and Hungary.

Some of its brands see Loué, Le Gaulois, Maître CoQ and Doux.

Philippe Gelin, LDC’s CEO, said: “The Buchanan family, the company, and LDC stock strong, aligned values, and we are excited astir the opportunities this volition make for consumers, customers and our farming partners. This transaction marks an breathtaking caller section for each our stakeholders successful the UK.”

LDC has partially built its concern done M&A, including deals past twelvemonth for Groupe Routhiau, a nutrient and plant-based concern successful France, and a bulk involvement successful European Convenience Food successful Germany, a retail and foodservice supplier.

It besides snapped up section salads and tabbouleh shaper Pierre Martinet and the Konspol marque successful Poland, implicit with a mill successful Nowy Sącz.