Travers Smith LLP has advised Agrial on its acquisition (through its UK subsidiary Florette UK + Ireland Limited (“Florette”) of MyFresh Prepared Produce Limited (“MyFresh”), a Wigan-based salad processing company, from the William Jackson Food Group.
Agrial is one of France's first agricultural and food-processing cooperative groups with a turnover of €5.2 billion in 2016. Agrial’s business is one of the European leaders in the fresh fruit and vegetables market, notably with its “Florette” brand of ready-to-eat salads and fresh vegetables, its “Priméale” brand in the raw vegetables space and its “Créaline” range of purées and fresh soups.
MyFresh shares similar business values to Florette and its acquisition will allow Florette to strengthen its offering and expand its range of products recognised for their quality and freshness, as well as expand its UK market share.
Doug Robertson, managing director of Florette UK + Ireland commented: “The acquisition of MyFresh continues an exciting journey for Florette in the UK & Ireland. MyFresh is a successful business that complements our existing operations and will help us to grow in the convenience retail and food service markets – both of which are showing consistent levels of growth and allows us to meet consumers’ needs for healthy food options, whatever the channel."
The acquisition follows that of Axgro Foods Ltd by Florette in 2016, manufacturer of a range of beetroot products, on which Travers Smith LLP also advised.
The Travers Smith team was led by Corporate Partner and Head of Paris Office Will Howard with support from Corporate Associate Chris Rusko. Commercial advice was provided by Head of Commercial, IP & Technology Tom Purton with support from Commercial Associates Mike Ross, Elise Jones and Hannah Duke. Tax advice was provided by Head of Tax Simon Skinner and Tax Associate Silvana Van der Velde.
Agrial was also advised by Messis Finance while the William Jackson Food Group was advised by Addleshaw Goddard LLP.