Restructuring & M&A – ALTANA advises D’Aucy in the takeover of Duc by Plukon Food Group

The listed group Duc, number 3 in the French meat and poultry production market, concluded an agreement at the end of 2016 with the Dutch leader Plukon Food Group, the European meat and poultry leader.

This agreement, under which the new investor commits to a total injection of €31M into the group, allows the Duc group to post a strong recovery forecast.

The negotiations that resulted in the conclusion of a settlement agreement between the different stakeholders were conducted according to the provisions on the prevention of corporate difficulties. The Evry Commercial Court approved this agreement by a judgment rendered 20 Decembrer 2016.

This agreement provides for the maintenance of all 802 employees of the Duc group and envisions various capital-intensive measures as well as the securing of supply agreements with local breeders.

Altana assisted D’Aucy, who was shareholder, creditor and supplier of Duc, in the different Restructuring and M&A aspects of this restructuring that allowed the Duc group to ensure its sustainability.

Lawyers : Michel Jockey and Mana Rassouli on the Restructuring aspects and Jean-Nicolas Soret on the M&A aspects.