An investor group backs the international expansion of Malteurop, world leader in the malt industry
Paris, 21 December 2009 A consortium of investors comprising Nord Est Crédit Agricole Regional Bank, SODICA CAPITAL INVESTISSEMENT, Unigrains, Société Générale Capital Parteners and the Brie Picardie and ChampagneBourgogne Crédit Agricole Regional Banks is supporting Malteurop in a 55 million euro growth capital deal. Malteurop’s shareholder cooperatives, via their holding company Cofimalt, will also contribute 60 million euros in equity and quasi-equity to the deal, aimed at refinancing Malteurop’s recent international acquisitions.
Following the 2008 acquisitions of ADM Malting, a subsSODICA Capital Investissementry of the US group Archer Daniels Midland, specialised in malting barley, and of a Russian malting plant belonging to the brewer Ochakovo, Malteurop is now the leading maltster in the world’s three largest beer markets (Europe, Asia and North America). It has an industrial presence on four continents (Europe, America, Oceania and Asia) as well as privileged access to all barley-growing regions.
Founded in 1984 the Malteurop group is controlled by five cooperatives from the Champagne and Lorraine regions (led by Champagne Céréales), organised as an agro-industrial group called SICLAE, Cofimalt’s majority shareholder. With an annual production capacity of 2.3 million tons of malt, the group operates 23 malt factories and has 900 employees. At 30 June 2009 it reported consolidated revenue of 743 million euros.
The group’s Chief Executive Officer, Alain Le Floch, welcomed the renewed confidence of the group’s financial partners and their support for the strategy that made Malteurope a global player and a key partner of leading international brewers. This new deal confirms the wholehearted commitment of the French farming industry’s historic financial partners to help world leaders such as Malteurop face the strategic challenges that lie ahead.