Geldards advise leading French food producer LDC Group on landmark acquisition of Capestone Poultry

Geldards’ Corporate team has successfully advised Euronext Paris-listed LDC Group, a major European poultry supply company, on the acquisition of a majority share of Pembrokeshire-based Capestone Organic Poultry.

The LDC Group employees over 23,000 employees across 93 sites, with a turnover exceeding €4 billion in 2020/2021. This investment is a significant step for the group, representing LDC’s first investment in the UK.

Established over 20 years ago on a family farm Capestone is responsible for the supply of 7% of the UK’s free-range and organic poultry market, as well as suppling the baby food market, and has a turnover of £28 million. Following the transaction, Capestone’s previous owner Justin Scale and current Chief Executive Rob Cumine will retain a minority shareholding.

Andrew Morris who heads up the Corporate team in Cardiff led the advice to LDC, supported by Partners Alex Butler and Adam Thomas.

Commenting on the deal, Andrew Morris said:

“We were pleased to advise LDC group on this significant acquisition of Capestone, which aligns with their ambition of providing sustainable farming  and healthy food to a wider market across Europe.  We wish them every success for their continued business growth and ambition.”

Philippe Gelin, Member of the Management board at LDC group commented:

“We are very grateful to the whole Geldards team for their support throughout the acquisition.  Their professionalism, commercial approach and pragmatic advice were invaluable in what proved to be some challenging negotiations. We are full of optimism about the future of the Capestone business”.

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