Tereos Syral to Acquire Feculerie d’Haussimont to Enter Potato Starch Space
This acquisition would enable Tereos Syral – Europe’s third-largest starch producer – to broaden its portfolio of raw materials to include starch potatoes in addition to wheat, corn and tapioca, which are already converted into starch, glucose and derivative products at its plants in Europe and Brazil.
Dec 12 2011 --- Tereos Syral and shareholders of Féculerie d’Haussimont, SPhere and Société Coopérative Agricole Féculière de Haussimont (SCAF) have entered into exclusive negotiations concerning the acquisition of a 75% majority stake by Tereos Syral in Féculerie d’Haussimont.
SPhere and SCAF would remain minority partners and the Haussimont plant would join Tereos Syral’s European starch products business, while maintaining the early-stage support of raw materials suppliers (SCAF) and the later-stage support of a client that plays an active role in the bioplastics industry (SPhere).
Féculerie d’Haussimont converts around 300,000 tonnes of potatoes into over 60,000 tonnes of starch to be used in the food, paper and corrugated board, and bioplastics industries.
This acquisition would enable Tereos Syral – Europe’s third-largest starch producer – to broaden its portfolio of raw materials to include starch potatoes in addition to wheat, corn and tapioca, which are already converted into starch, glucose and derivative products at its plants in Europe and Brazil.
The proposed acquisition has been presented to Féculerie Haussimont’s works council, which has given a favourable opinion, and will soon be presented to the employee representative bodies of Tereos Syral, which will be consulted on the process.
Pierre-Christophe Duprat, CEO of Tereos Syral, comments: “This diversification would provide our group with an additional raw material, enabling it to meet the growing needs of our clients in Europe and worldwide. It would also be the prelude to the expansion of our product range. In addition, it fits in fully with our aim as a cooperative group of developing the agricultural production of our cooperative growers.”
Pascal Foy, Chairman of SCAF, comments: “Joining forces with one of Europe’s leading starch producers would safeguard the future of Féculerie d’Haussimont and the production of starch potatoes in regional areas.”
Féculerie Haussimont specialises in the production of potato starch and benefits from a contingent of 63,259 tonnes, equal to around 25% of the French quota, and generates revenues of €33 million. It obtains supplies exclusively from SCAF, a cooperative company grouping together around 300 starch potato farmers, of which it is the sole client. The majority of the potato starch produced by Féculerie Haussimont is currently sold in the conventional starch markets of stationery and food manufacturing. It is also used for innovative outlets representing growth drivers, such as bioplastics.
Tereos Syral is the cereal processing subsidiary of Tereos, a cooperative group owned by 12,000 members. It is Europe’s second-largest sugar and alcohol producer, generating revenues of €4.4 billion. Tereos Syral is Europe’s third largest producer of cereal starch and derivative products, selling 1.8 million tonnes a year (native and modified starch, glucose syrup, polyols and alcohols), generating revenues of €1.6 billion a year and processing 3.7 million tonnes of cereals a year at nine plants, with 1,600 employees. Tereos is also present in sugarcane in Brazil, Réunion and Africa (Mozambique and Tanzania) and has 24,000 employees worldwide.
