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France’s InVivo Completes EUR2.2 Billion Acquisition of Soufflet

InVivo, a leading French agricultural cooperative group bringing together 192 cooperatives, has completed the acquisition of Soufflet, the largest family-owned grain buyer in Europe, in a deal that values Soufflet at EUR 2.2 billion (US$2.49 billion).

To help finance the acquisition, InVivo reportedly joined exclusive talks to sell the Soufflet Alimentaire unit to French oilseeds group Avril, and has opened the capital of Soufflet’s malt division to KKR, Credit Agricole, and BpiFrance for EUR 440 million.

KKR has also made its own announcement that the three parties have collectively made a EUR 440 million investment to acquire a majority stake in Malteries Soufflet, one of the leading malt producers in the world with 28 production plants and a presence in four continents.

Soufflet also operates on the international cereals market through its trading subsidiary Soufflet Négoce; is one of Europe’s biggest wheat millers; and is an expert formulator of specialized ingredients, designing enzymes and sourdough. The group also is a major manufacturer of baked goods in France and Portugal, and has a presence in the fast food sector, employing 6,851 people in 19 countries generating 2019/2020 revenues of EUR 4.9 billion (US$5.5 billion).


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