C&D Foods snaps up French pet food maker from bankruptcy
Published 03/07/2016 | 02:30
ABP's pet-food division, C&D Foods, has bought a major French pet-food manufacturer out of bankruptcy for an undisclosed sum.
C&D has acquired Continentale Nutrition, which filed for bankruptcy last month.
Continentale Nutrition employs 358 people and has sales of €100m a year. By comparison, C&D has a staff of 1,100 and annual revenue of €350m.
The deal was approved by the Commercial Court of Boulogne on Friday. It will add two manufacturing plants to C&D's arsenal, bringing its total in Europe to nine.
This was C&D's second attempt to buy Continentale Nutrition, which was sold to Paris-based Alandia in 2014.
C&D's managing director, Philip Reynolds, said it was a pity that the deal did not happen the first time around.
"My regret is we were not successful two years ago" he said. "This is a new beginning and an opportunity to rebuild a business which was once the jewel in the French pet-food market."
It was important for C&D to have a presence in Europe's third-largest pet-food market, given that the industry is consolidating, he added.
C&D was founded in 1969 by Philip Reynolds' late father, former Taoiseach Albert Reynolds. It expanded into the UK in the 1980s and then into mainland Europe.
The company joined ABP in 2008, although the Reynolds family retained an interest, and opened a €50m pouch-manufacturing facility in Edgeworthstown, Co Longford, in 2014. It is now Europe's largest private-label pet-food company.
Sunday Indo Business