Leading European plant breeder and seed development company Groupe Limagrain, has acquired a controlling share of the Brossard SA bakery business.
On 15 April, it signed a deal to acquire 77.16% of Brossard’s capital stock, and voting rights, for a price of €8.29 (£7.26) per share.
French biscuits and cakes business Brossard is a manufacturer of products such as butter biscuits, including shortbreads, cookies, cakes, and filled biscuits, under the Brossard and Savane brands.
It had been a subsidiary of Saveurs de France since 2001, and its shares are listed on the Alternext market of NYSE Euronext (Paris).
Limagrain is an international agricultural co-operative, supplying functional flours to the UK and Europe through its Limagrain Céréales Ingrédients business, and is also the second largest French industrial baker with its Jacquet business.
The deal is subject to approval from the French competition regulator.