Companies express interest in Doux business
June 25, 2012
by Meat&Poultry Staff
PARIS – The owner of Doux, a France-based poultry group, said he is willing to sell a stake in the company to keep it running, according to Reuters.
Doux, a family owned operation with an 80 percent stake in the company, is one of the world’s largest poultry exporters. Speaking to the Journal Du Dimanche, Charles Doux said he would negotiate with industrial partners, cooperatives or financial firms which could ensure the company’s future. However, the company’s administrators are seeking a buyer to take over the entire business, according to Reuters. Several companies have shown interest in a partial or full takeover of Doux.
Glon Sanders, a French animal feed producer, said it was in discussions with Doux’s administrators. French farm cooperatives Terrena and Triskalia are also said to be interested in the troubled company, along with LDC, a private poultry group.
Doux was placed in administration on June 1 after suspending payments to its creditors. Barclay’s Plc, Credit Agricole SA and Credit Mutuel de Bretagne agreed to extend €35 million ($44 million) line of credit to pay the companies suppliers and maintain deliveries.