(AOF) – Bonduelle has obtained the authorization of the American and Canadian regulatory authorities as well as the lifting of the conditions precedent allowing it to finalize the agreement with the institutional investors Fonds de solidarité FTQ and the CDPQ, for the acquisition, in equal parts between them, 65% of Bonduelle Americas Long Life (BALL) and on the basis of an enterprise value at 100% of 850 million Canadian dollars (approximately 625 million euros), i.e. a multiple of 2020 EBITDA -2021 of 8.2.
The sale, the net proceeds of which will be determined on the basis of the accounts closed on the date of the transaction and in the process of being drawn up, will be recorded in the accounts of the Bonduelle Group for the financial year ended June 30, 2022.
With a turnover of 943 million Canadian dollars for the year 2020-2021, BALL is dedicated to the processing and marketing of canned and frozen vegetables, in the United States and Canada.
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A booming fair trade in France
This trade has almost tripled in five years, reaching 1.83 billion euros in 2020 in France. Based on a more profitable model for producers in southern countries, it was developed by the NGO Max Havelaar in 1988. The latter labels 90% of fair trade in the world with a total of 10.7 billion dollars in 2019 This trade is 95% food products. Coffee, chocolate, bananas and cane sugar account for three quarters of sales. On our territory, the NGO will label wheat from the Gers and milk from Poitou-Charentes. The French market is developing through mass distribution, which represented 54% of sales in 2020 compared to 42% in 2018. However, while organic represents 6.5% of consumption in France, the share of fair trade is limited to 1.5%.