FRANCE – Butler in exclusive talks to sell France Champignon to Bonduelle

An agreement could be finalised in the coming weeks, but would still be subject to customary anti-trust authorisations in France and Germany.

Based in Saumur, France Champignon was established in 1997 following the merger of Royal Champignon and Champijandou. The company specialises in the production and distribution of button mushrooms, as well as more exotic varieties. It operates six plants, five of which are located in France and one of which is based in Poland, processing 130,000 tonnes of mushrooms per year and employing some 1,500 people. In 2008, the company recorded a turnover of EUR 212m.

Butler acquired an 80% stake in the company in July 2004 and it was reported that the private equity firm expected to invest approximately EUR 10m over a period of five to seven years. At the time of the original acquistion, Butler fended off competition from Bonduelle for the business.

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