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Future Co-Operation for Grelier and Hendrix

by 5m Editor
8 June 2011, at 6:42am

EU - Groupe Grelier and Hendrix Genetics have presented their plans for future cooperation.

On 30 May 2011, Hendrix Genetics BV and groupe Grelier have presented a cooperation project in poultry breeding and distribution to staff representative bodies of the two groups. An exclusive negotiation period was already announced in December 2010. The projected cooperation allows to strengthen the groups and to secure their growth because of the complementary features of their activities and countries. It would also secure the succession of the groupe Grelier.

In practical terms, the project would result in a merger-acquisition scenario, in which Hendrix Genetics acquires groupe Grelier and in return, Jean-Marc and Dominique Grelier will become shareholders of Hendrix Genetics with the Hendrix family (majority and control), Sofiprotéol (the financial institution of the French oil and protein industry) and management.

This project is a result from the joint reflection by the shareholders of the two groups, which has shown possible synergies and significant growth for the resulting group in the coming years. Consequently, business prospects, which are considered by the future shareholders, should keep employment stable at present level: the new combination will have around €300 million sales and more than 2,000 employees.

The project is subject to legal steps of consultation of representative staff bodies and subject to further customary approvals on both sides for such a transaction.

The company, Grelier, was founded in 1955 by the late Joseph Grelier. Its activities include breeding, multiplication and hatchery activities in the turkey, chicken and guinea-fowl breeding industry, with production activities in France, Poland and Hungary, and sales activities in more than 38 countries. The group employs more than 1,000 staff.