France-based agri-food company Avril Group has acquired a majority stake in local plant-based food manufacturer Hari&Co. This strategic move strengthens Avril’s position in mass consumption and demonstrates their commitment to the development of plant protein in the food and beverage industry.
The founders and directors of Hari&Co, Emmanuel Brehier and Benoît Plisson, will continue to be involved with the company, retaining minority shareholdings. This ensures continuity and expertise in the plant-based food manufacturing sector.
The acquisition involves the sale of shares previously held by existing investors, Eutopia and Triodos Investment Management. Hari&Co offers a range of products, including veggie burgers and meatball alternatives, which aligns with Avril’s focus on innovative food manufacturing trends.
Hari&Co primarily operates in the French market and has established strong partnerships with over 5,000 retail sales points as well as foodservice customers. The company has also expanded its presence in Italy, supplying products to more than 250 stores, thus exhibiting international growth.
Avril’s CEO, Jean-Philippe Puig, emphasized the strategic significance of this acquisition, stating that it aligns with Avril’s overall strategy of promoting legumes and developing the French food industry. This move follows Avril’s previous acquisition of rice, legumes, and chickpeas supplier Soufflet Alimentaire, which was later renamed as Vivien Paille.
Avril continues to undergo strategic changes, streamlining its operations and consolidating activities in key areas. In line with this direction, Avril sold its eggs and pork operations and redirected its focus toward four strategic areas: condiments and cooking oils, plant-based products for humans and animals, ingredients, and energy.
As part of their expansion plans, Avril previously acquired a majority stake in Italian firm Eccellenza Italiana, which offers a range of products, including condiments and olive oil.
