April 15, 2021

Agri-food group Avril to sell animal processing units to focus on plant-based businesses

French agri-food group Avril will put its animal processing units for sale as it focuses investments and acquisitions on its core plant-based business, following rising demand for meat alternatives, Reuters reported.

Jean-Philippe Puig, Avril chief executive, said the company is looking at high potential acquisitions in the sector such as services for farmers including animal nutrition, consumer brands, specialty ingredients, and renewable energy.

The company will look to boost production of plant-based protein for the food industry, aiming to benefit from a market growing 14% annually.

Avril will sell its eggs business affected by the COVID-19 pandemic, and its pork business even though it benefitted from rising China demand last year. Avril reported sales of EUR 5.8 billion (~US$6.9 billion; EUR 1 = US$1.20) in 2020.

In 2020, Avril and Royal DSM formed a joint venture to produce about 5,000 tonnes rapeseed-based protein for the food industry in Dieppe in northern France from 2022.

Sofiproteol, Avril's financial branch, purchased a minority stake in Vegini from Austria, which produces meat alternatives using peas.

- Reuters