(Boursier.com) — Teract and Laurent Menissez announce today a strategic partnership in the artisanal bakery. This partnership will consist of the sale by FLM, the Holding of Laurent Menissez, to InVivo Retail, a 100% subsidiary of Teract, of a majority stake in the capital of the network of artisanal bakeries Louise which he founded 12 years ago.
This sale remains subject to the prior authorization of the Competition Authority in terms of merger control.
Created in Hauts-de-France in 2010, Boulangerie Louise achieved a turnover of nearly 88 million euros in 2021 in France. Its network is made up of 129 points of sale in France. The activities of Boulangerie Louise in Belgium and Canada are not included in the scope of the transaction and remain operated by the Menissez family.
The partners’ plan is to accelerate the development of the Louise brand through internal and external growth by continuing to open own and franchise points of sale and by setting up bakeries with InVivo Retail brands.
This partnership, the announcement of which comes a month after Teract’s IPO on August 1, would constitute a new step fully in line with its ambition to strengthen its food activities.
It would accelerate Teract’s commercial expansion strategy in France and eventually internationally. This strategy is based in particular on the creation of a new food concept of fresh products “Grand Marché – Frais d’ici” (a concept based on the richness of the terroirs, the authenticity of the products and the artisanal know-how) and bakeries promoting responsible French cereal sectors.
Teract can already rely on InVivo Retail’s unique specialized distribution network in France, made up of 1,597 stores, bringing together the garden center brands Gamm vert, Jardiland, Delbard and Jardineries du Terroir, food distribution ‘Here and Bio&Co and pet store Noa.
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