Racine advised MVVH on the transaction. Bryan Cave Leighton Paisner advised Crédit Agricole.
MVVH, the gastronomic pole of the Landes cooperative group Maïsadour, has finalized the sale of its cured meats division, formed by Delpeyrat-Chevallier, Salaisons Pyrénéennes and Harraguy-Jambon de Bayonne to the cooperative group Fipso.
Specialized in the processing of raw hams (in particular IGP and Label Rouge) and the production of cured pork, the companies Delpeyrat-Chevallier, Salaisons Pyrénéennes and Harraguy have a total turnover of 52 million euros.
Founded in 1965, the Fipso group (South-West Pork Sector) is a cooperative of nearly 250 pig breeders located in the South-West. With 154 million euros in turnover in 2020, it is one of the leaders in the pork sector in the South West and a partner and supplier of the MVVH group.
Approved by the Competition Authority last April, this sale allows Maïsadour to transfer its ham division to Fipso, historically formed by the takeover of three local companies (Montagne Noire, Chevallier, Salaisons Pyrénéennes) specializing in pork meats to organize a regional sector made up of quality players in Bayonne ham. The operation should thus allow the Maïsadour group to focus on the other know-how of its gastronomic division, namely duck and farmed fish.
In this operation, Racine advised MVVH with a team made up of Luc Pons (Picture), partner, and Elena Pintea-Pouchkine, lawyer, on M&A aspects; Bastien Thomas, partner, on competition law aspects; Sophie Pasquesoone, counsel, on distribution law aspects.
The Fipso group was represented by Maître Jean-Michel Gallardo.
Bryan Cave Leighton Paisner’s team, made up of Olivier Borenstejn, Partner, and Gwenaël Fassot, Associate, intervened on behalf of the banking pool on the financing of the transaction.
Involved fees earner: Olivier Borenstejn – Bryan Cave Leighton Paisner; Jean-Michel Gallardo – Jean-Michel Gallardo; Gwenaël Fassot – LPA-CGR avocats; Sophie Pasquesoone – Racine Cabinet; Elena Pintea – Racine Cabinet; Luc Pons – Racine Cabinet; Bastien Thomas – Racine Cabinet;
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