Travers Smith LLP has advised Groupe Agrial on its acquisition (through its UK subsidiary, Florette UK & Ireland) of Axgro Foods Limited, a producer of ready-to-eat beetroot products.
Agrial is one of the leading French farming and farm-produce cooperatives, with a turnover of €4.8 billion in 2015. Agrial’s vegetables business is one of the European leaders in the fresh fruit and vegetables market, notably with its “Florette” brand of ready-to-eat fresh fruit and vegetables, its “Priméale” brand in the raw vegetables space and its “Créaline” range of purées and fresh soups.
Established in Lincolnshire, Axgro Foods Limited (through its brand “The Lincolnshire Beetroot Company”) specialises in ready-to-eat beetroot products. Axgro is a family business working closely with a group of local producers, which sells its products to key players in the distribution and catering industries in the UK.
The acquisition will allow Florette UK & Ireland to enlarge its product portfolio in a high-growth market segment in the UK. In particular, ready-to-eat beetroot products enter into the “Superfood Salad” range launched by Florette UK & Ireland during the last year. The acquisition will provide UK customers and, ultimately, customers across Europe with a diversity of products confirming their leading status.
The Travers Smith team was led by corporate partner (and Head of Paris Office) Will Howard with support from associate Hugh Hutchison.