June 26, 2012 / 5:39 PM / 7 years ago

Poultry group Doux sells non-core pet food plant

RENNES, France, June 26 (Reuters) - A French court authorised debt-burdened French poultry group Doux, which went into administration this month, to sell its pet food plant Stanven to Germany’s Saria, a branch of the family-owned group Rethmann, a Doux spokesman said.

The deal, worth 22 million euros, should bring the group a net income of 19 million, the spokesman said.

Since Doux, which employs 3,400 staff and relies on 800 farmers, was placed in administration on June 1 after saying that it had suspended payments to creditors, the company has been seeking cash to pay its suppliers and maintain activity.

The poultry group had said it intended to sell its Stanven plant as it considered it as non-strategic.

Several companies are in talks over a partial or full takeover, sources said on Monday. One of Doux’s administrators said last week that they were also seeking a buyer to take over the entire business.

Rethmann is a group that specialises in water management, energy and logistics. (Reporting by Pierre-Henri Allain, Writing by Sybille de La Hamaide; Editing by Jon Loades-Carter)

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