Terrena, a France-based co-op, is currently in exclusive negotiations to acquire a majority stake in frozen and shelf-stable food manufacturer Tipiak. The co-op is looking to purchase just under 78% of the publicly-listed company from a group of majority shareholders, including chairman Hubert Grouès. The proposed offer values Tipiak at €80.4m ($84.9m), or €88 a share. If the deal goes through, Terrena will then make a mandatory offer for the remaining shares in Tipiak, which is listed on the Euronext. Both companies expect the deal to be finalized in the first half of next year.
Tipiak, known for its patisserie products and recipe creations, has seen positive performance in recent years. In 2022, the company recorded revenues of €239.4m, a 13% increase from the previous year. Terrena, on the other hand, generated a turnover of €5.4bn in 2022, up 8% from the previous year. The co-op aims to strengthen its presence in the plant-based market and expand its portfolio of deli products through this merger. Terrena President Olivier Chaillou believes this deal aligns with their growth strategy and meets consumer expectations in terms of quality and authenticity.
Both the board of Tipiak and the majority shareholders have expressed their support for the acquisition. Talks with staff from both companies will now take place to ensure a smooth transition. This move represents a significant opportunity for Terrena to enhance its position in the food and beverage industry while capitalizing on food and drink consumer trends. The co-op’s strong financial performance and extensive range of brands, including Pere Dodu chicken, make it well-positioned to capitalize on the potential synergies between the two companies.
In conclusion, Terrena’s potential acquisition of Tipiak represents an exciting opportunity for both parties. By combining their strengths and resources, they aim to further expand their presence and offerings in the food and beverage sector. This deal reflects Terrena’s strategic vision and commitment to delivering high-quality products that meet the evolving needs of consumers.
