This announcement comes at a time when InVivo has just finalized the acquisition of the Soufflet Group, a major player in the agri-food sector in France. With close to €10 billion in revenue and more than 13,000 employees, InVivo’s critical size makes it one of Europe's leading agricultural players.
Avril's acquisition of Soufflet Alimentaire would be in line with the long-lasting partnerships between Avril and the InVivo and Soufflet groups, such as in the oilseed processing business as well as through Sofiprotéol*. This new step would also be fully in line with Avril's ambition to become the leader in plant-based solutions, serving the agricultural, food and environmental transitions. Avril would thus strengthen its positioning in consumer products, as well as healthy and sustainable food ingredients, two of its major development priorities. As a specialist in the processing and packaging of pulses, mixed seeds, and rice, Soufflet Alimentaire would perfectly integrate and complete Avril's food offer, by extending it to products rich in vegetable proteins, which are at the heart of new consumer trends.
At the same time, Avril will acquire from InVivo the minority shares it holds with Soufflet Group in the capital of its industrial holding company, Avril Pôle Végétal. These various transactions reflect Avril's strategic and financial support for InVivo's acquisition of the Soufflet Group.
"This project, a very important symbol for our two groups and the alignment of strategic and financial issues, has been made possible thanks to the work and contribution of the Soufflet Alimentaire teams and Jean-Philippe Puig, CEO of Avril. Its completion would enable InVivo to accelerate the implementation of its strategic plan, which is now based on adding value to the cereal and wine sectors, on marketing and distribution to the general public, and on innovation and digital technology", explains Thierry Blandinières, CEO of InVivo.
Jean-Philippe Puig, CEO of Avril, comments: “This project is the result of a major effort and a deep involvement from InVivo, Soufflet Alimentaire and Avril. I am particularly pleased with this project which, in line with our development priorities, is fully consistent with Avril's DNA. Indeed, it would support the consolidation of two major French players committed to the agricultural world and to the development of French agricultural sectors. It perfectly illustrates the ambition of the Group's raison d'être, Serving the Earth.”
This transaction will be carried out in compliance with legal obligations with respect to each representative bodies. The sale of Soufflet Alimentaire will also be subject to the prior authorisation of the relevant authorities.
*Sofiprotéol is the investment and development subsidiary of Avril
About Soufflet Alimentaire
Soufflet Alimentaire is a process and packaging specialist for rice, pulses and grain mixes, both dried and sterilized in bags, and is also the French specialist in functional flours made from gluten-free rice and pulses. Soufflet Alimentaire develops its products under the Vivien Paille and VP Ingrédients brands (vegetable proteins of natural origin) for the industrial, catering and mass distribution markets. Soufflet Alimentaire is part of Soufflet Group's "Semons du Sens" approach, through its expertise in French rice (Camargue), green lentil (Le Puy, Champagne) and quinoa production sectors, and its expertise in international sourcing. With a workforce of 268, Soufflet Alimentaire is forecasting sales of 178 million euros for 2020-21.
About InVivo
InVivo Group, which finalized the acquisition of Soufflet Group in December 2021, is one of Europe's leading agricultural groups with revenues of nearly €10 billion, with more than half of which generated in France, and a workforce of more than 13,000 employees, including more than 10,000 in France. With operations in 35 countries, it has more than 90 industrial sites, including 63 in France.
A cornerstone of food sovereignty, InVivo operates across the entire value chain, from farm to fork, and is a leader in each of its strategic businesses: Agriculture; Malting; Milling, ingredients, bakery and pastry; Garden center and food retail; International grain trade; Wine. A global cross-functional centre for innovative and digital solutions completes the structure, in order to accelerate the transformation of InVivo’s businesses.
For more information: invivo-group.com / Twitter @InVivoGroup
Contacts
InVivo Group – Charlotte de Lattre Avril – Hélène Taboury
+33 6 01 06 12 74 +33 6 23 08 83 54
cdelattre@invivo-group.com helene.taboury@groupeavril.com
Brunswick Group – Benoît Grange / Xavier Mas Avril – Béatrice Germain
+33 1 53 96 83 83 +33 6 66 81 48 17
invivo@brunswickgroup.com beatrice.germain@groupeavril.com