Sodiaal, the largest dairy cooperative in France, announced at its annual general meeting that it is to diversify its activities and invest €600 million in a six-year plan that will vastly increase its output, LSA reports.
Damien Lacombe, its president, said, "The first results can already be seen, and we have achieved commercial export success. We have set a target of doubling our gross operating surplus (which stood at €93 million for 2014), and to increase the proportion of our turnover earned through exportation by 2020.” The group envisages growth of 8 per cent in volume, and 15 per cent in turnover.
Last year Sodiaal’s turnover stood at €5.4 billion, of which about 25 per cent was earned internationally.
As part of the plan, it will double its production of organic milk to 200 million litres annually, and increase its exportation to China through its partner there, ZIB. It also plans to operate its brand Candia in 23 countries by 2020.
The increase in milk production is permitted by the discontinuation of European Union quotas.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly
