December 7, 2007

French DUC sets up JV in Bulgaria

French poultry group Duc SA recently acquired another French company, Cobral, for a joint venture in Bulgaria.

Cobral's takeover sum amounted to US$2.6 million. The specialist in snacks and pancake batter products targets annual revenue of US$39.5 million in 2007. It employs 180 people in two production sites in France.

In Bulgaria, Duc set up a poultry production and marketing joint venture with local sector specialist SVS 98. The French group will hold a 40 percent stake in the new entity.

The two operations are part of the group's diversification strategy, Duc representative said.

Following these external growth moves, Duc confirmed its target of US$234-million sales for 2007.

In the first nine months of 2007, the group's revenue growth on a constant scope of consolidation stood at 29.5 pct year-on-year.