SCAF to join Tereos
Cooperative sugar group Tereos, which had acquired a 75% interest in 2011 in the Haussimont potato s…Cooperative sugar group Tereos, which had acquired a 75% interest in 2011 in the Haussimont potato starch facility and Société Coopérative Agricole Féculière de Haussimont (SCAF), located in France's Marne region, has announced that SCAF will be joining Tereos. By moving closer in this way, Tereos said that the aim is to further strengthen the starch potato branch in a more open and volatile European market, while reinforcing the Group's diversification strategy.
Located in France's Marne region, SCAF is an agricultural cooperative specialising in the collection of starch potatoes sourced from an area covering the Marne, Aisne, Aube, Ardennes and Seine et Marne regions. SCAF groups together 268 members who produce the equivalent of 270,000 tons of potatoes. This initiative to move closer to Tereos will enable SCAF's members to become cooperative growers within a cooperative group that is said to be the French market leader for cereals and beet processing and France's number one sugar group. It will also open up new prospects for development for its members on the starch potato market, said Tereos.
SCAF will join the eight beet cooperatives that are already part of the Tereos Group.
SCAF will transfer all its assets over to Tereos in return for shares in the Tereos cooperative union. Pascal Foy, SCAF's current chairman, will become a member of Tereos' Supervisory Board, which is chaired by Thierry Lecomte. Following this operation, Tereos will hold 100% of the capital in the Haussimont potato starch unit (Marne).
"Our decision to join the Group today confirms the choice we made back in 2011 to join forces with Tereos,” said Foy. “Its recognized know-how and the diversification of its positions offer future outstanding guarantees for our cooperative starch potato growers".
"With SCAF joining Tereos, this will further strengthen the dynamic integration process between the Haussimont potato starch facility and Tereos from an agricultural and industrial perspective, in addition to providing visibility over the long term for its growers who are now cooperative growers within Tereos", said Alexis Duval, Tereos' CEO.
Tereos has invested 5 million euros over the past two years in the Marne potato starch site, which will make it possible to develop the potato growing areas, extend the campaigns and diversify the product range. This operation will also further strengthen the regional, agricultural and industrial synergies, thanks in particular to the proximity to Connantre, the world's largest beet sugar factory, located 20 km away from the Haussimont potato starch unit.
