France-based agri-food investor Unigrains has taken a minority stake in local family-owned poultry specialist Savel Group.
It has backed Savel alongside another local investor, Unexo Credit Agricole.
Financial details have not been disclosed and nor has the size of the stakes taken, with Savel simply saying the pair have invested “on an equal basis”.
Savel added that company president Marc Léon has strengthened his stake through the “accretive” transaction and the family shareholders retain a large majority of the business.
Founded in 1968 and based in Lannilis, in France’s Finistère department, Savel specialises in “niche” poultry, including cockerel, guinea fowl and slow-grown yellow chicken.
It is also active in the turkey market through its La Toque Bretonne and Béziau operations.
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Savel said Unigrains’ and Unexo’s backing will support it in its “organic and external growth as well as its diversification into prepared foods”.
Operating in the west of France, Savel relies on a network of 150 poultry farmers located in close proximity to its five production facilities.
The company, which has 470 employees and annual sales of more than €150m ($159.3m), mainly distributes its products via the out-of-home catering channel.
Savel president Léon said of the investors: “Their support and understanding of our challenges will enable us to accelerate our development while remaining true to our family values.”
Nicolas Mulle, investment director with Unigrains, added: “Savel Group has successfully differentiated itself in the highly competitive poultry segment thanks to its positioning in speciality niche species. For Unigrains, this investment is about supporting the growth of a key player – both upstream and downstream – led by a recognised and high-quality management team.”
Unigrains has been an active investor in recent months.
Last month, it took a stake in Spanish ready-to-go foods business Ñaming and that deal came soon after it announced it was backing French dairy group Beillevaire.
