May 4, 2023

Avril in talks to buy Axereal animal feed business

Avril, a French oilseed and protein group, announced that it is in exclusive talks with grain cooperative Axereal to acquire all of its animal nutrition activities, which it intends to combine with its animal feed unit Sanders, MarketScreener reported.

It did not specify the size of the transaction, but stated that Axereal animal feed unit Axereal Elevage had sales of EUR 234 million (~US$258.6 million; EUR 1 = US$1.10) in 2022 and produced 400,000 tonnes of feed per year.

Sanders, France's largest animal feed manufacturer, produces approximately 3.4 million tonnes per year, Avril said.

The acquisition is subject to information consultation with Axereal Elevage employee representatives and approval by the French Competition Authority.

According to a joint statement, Avril had EUR 9 billion (~US$9.9 billion) in sales in 2022, while Axereal has a yearly turnover of around EUR 4 billion (~US$4.4 billion).

-      MarketScreener