Reuters reports that French agri-food group Avril has decided to sell its animal processing units to focus acquisitions and investment in its core plant-based business. It seeks to take advantage of a surge in demand for alternatives to meat.
Created by French oilseed and protein crop growers, Avril is the European Union’s largest biodiesel maker and a leader in animal nutrition, cooking oil and plant-based chemical products.
The group is looking at acquisitions in the sectors it has identified as high-potential: specialty ingredients, consumer brands, renewable energy and services for farmers, including animal nutrition, Avril Chief Executive Jean-Philippe Puig said.
“We want to concentrate all our resources on plant processing – we believe that this is our core business and this it is where we have strength,” he said.