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D'aucy to take over Saint Mamet

Saint Mamet, France's leader in fruit cordials, has stated that the Extraordinary Central Works Council Committee has "unanimously" voted in favour of D'aucy becoming their industrial partner. The Breton cooperative alongside the Hivest investment fund are buying Saint Mamet from the Florac fund, a fund belonging to the Meyer Louis-Dreyfus family. The had bought Saint Mamet back in October 2015 (€100 million turnover). 

One particular issue remains in discussion between Hivest and Florac: the repayment of a €7 million debt demanded by main action holder, Conserve Italia, who still hold 5% of capital and are sub-contractors of Saint Mamet for packaging and labelling certain products.

Saint Mamet was created in 1953 and has it's headquarters in Nimes. Having had problems over the last decade, they handle their long term supplies with the same farmers. 600 hectares of orchards are farmed, some within immediate proximity to the factory, with over 100 producers who are members of the Conserve Gard cooperative. They are the exclusive supplier thanks to a 20 year supply contract. The contract notably foresees a progressive turn towards organic orchards. 

Publication date: 7/11/2018


 


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