French poultry firm to be acquired by LDC and Al-Munajem
Doux had lost €35 million annually in the last couple of years due to increasing competition in the Middle East market from Brazilian producers who have been increasing their exports to this region.
LDC will obtain a food processing unit from Doux, which the company wants to modernize and expand in order to supply poultry products to French consumers. Furthermore, the company plans to rehire workers from this facility, making available 912 jobs, and to invest €60 million in the assets acquired from Doux.
In addition, Saudi food producer Al-Munajem, a client and minority shareholder at Doux, acquired a unit which produced frozen chicken for exports.
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