The long-term growth capital expert
in agrifood and agroindustry
2009 AnnuAl RepoRt
of capital gains
e 81 m
invested in 2009
No. 1 investments
capital in France
(Magazine des Affaires
e &e m
invested in 2008
of capital gains
103 No. 2
for development capital
stakes (Capital Finance
€ 68.8 billion
Group, a leader
(Group share) in Europe
Retail bank leader in France(1) and in Europe(2), Crédit Agricole
is a first-class partner for the economies in which it operates.
9.7% The strength of its retail banks including 11,500 branches
worldwide and the expertise of its specialised subsidiaries
Tier 1 ratio give Crédit Agricole an effective presence in all areas of banking
and finance. More than 160,000 employees work to satisfy the
banking requirements of 59 million customers in 70 countries.
Crédit Agricole intends to fulfil its role as a leading european
player with global scale, while complying with the commitments
that stem from its mutualist background. Its development is
28% focused on servicing the real economy and it is commited to
the principle of responsible growth. It is well positioned in
three major sustainable development indices(3).
of the household
€ 2.7 billion
(1) by customer bank deposits, source: Banque de France.
(2) by retail banking revenues and the number of branches, source: company data.
(3) ASPI Eurozone since 2004; FTSE4Good since 2005; DJSI since 2008.
ry stock R
*via SAS Rue La Boétie
3 BUSINESS LINES:
RETAIL BANKING SPECIALISED BUSINESS CORPORATE AND INVESTMENT
- 25% of the Regional Banks Specialised financial services - Coverage and Investment Banking
(excl. the Regional Bank of Corsica) - Consumer finance - equity Brokerage and Derivatives
- lCl - leasing - Fixed Income Markets
- Factoring - Structured Finance
International retail banking
- Cariparma FriulAdria Savings management
- emporiki - Asset management
- Crédit du Maroc - Insurance
- Crédit Agricole egypt - private banking
- lukas Bank
SPECIALISED SUBSIDIARIES: Crédit Agricole Immobilier, Crédit Agricole private equity, , uni-editions.
to finance their
IDIA, leading player
in development capital
in France in 2009
Both IDIA’s long-term growth capital business and its making it more resilient to a difficult economic climate.
expertise in agrifood and agroindustry helped it to further
establish its foothold in the market in 2009, reaching IDIA has also continued to pursue its strategy of
the number 1 position amongst development capital developing wine industry assets via CA Grands Crus, the
players*. Crédit Agricole Group’s main investment capital vehicle
dedicated to the winemaking sector. the €75 million
our deal flow increased from 50% to 60% in 2009, increase in capital occurring mid-2009, co-underwritten
testifying to our sustained activities, with 14 investments by traditional shareholders pReDICA and Crédit Agricole
totalling €81 million. d'Aquitaine's Regional Bank, has enabled CA GRAnDS
CRuS to operate in a minority position in high-quality
the fact is that shareholders in agrifood companies vineyards of international renown alongside family
– often family businesses – tend to have major ongoing shareholders.
issues with equity capital, issues that were felt most
acutely in 2009. Furthermore, the long-term growth Internationally speaking, 2009 was a year of structuring
capital business is designed for companies pursuing for the team at IDIA Italia S.r.l., which assists IDIA in the
development projects, and who are in search of equity management of CA Agro-Alimentare S.p.A., the sector
capital. the leverage is based on the project itself, fund for minority investments created in conjunction with
* Source: le Magazine des Affaires.
2 IDIA 2009 Annual Report
Cariparma, FriulAdria and the Cariparma Foundation.
A number of investment opportunities are now under
study and are expected to materialise in 2010.
In addition, IDIA continues to manage the Crédit Agricole
Management Committee: 1 nicolas lambert
Group’s land and forestry groups. Director
1 Jean-Jacques Ricoleau
Chairman 2 paul Charrin
I am reasonably optimistic for this new year, which 2 nicolas Rambaud Director
should be an auspicious one for long-term growth Corporate Secretary 3 Henri Corbel
investments in the agrifood sector, particularly in view of 3 olivier de pelet Director
the beginnings of a reconciliation between buyers and 4 Jean-François Raimond
4 Arnaud pradier
sellers as concerns valuations. Partner
Human Resources Manager
5 Sophie Dano
Jean-Jacques Ricoleau Director of Development
6 Karine Gras
Chief Financial Officer
7 eric le Cann
8 nicolò Francesco Rienzi
of IDIA Italia S.r.l.
2009 Annual Report IDIA 3
from left to right:
philippe Cristao pedro,
Associates, from left to right:
Adrien Sirera, olivier Frayssinier, paul lambert,
Matthieu Adoir, Cédric Fontaine.
IDIA’s LONGSTANDING PARTNERSHIPS
+ IDIA invests Crédit Agricole Group’s equity, which makes
+ it flexible and free from time constraints in managing its
stakes. Well aware that companies’ growth strategies
advantages unfold over the long term, IDIA adjusts the term of its
investments to fit the development plan drawn up with
the entrepreneur. And it provides assistance at every
stage of the company’s life. IDIA thus builds a privileged
and lasting relationship based on mutual trust.
+ SECTOR EXPERTISE IDIA shares the same goals of creating value as the
IDIA’s unique expertise in agrifood and agroindustry, company’s management and favours a long-term
confirmed by its affiliation with the Crédit Agricole industrial vision.
Group, gives it an up-to-the-minute information on the
sector. IDIA’s engineering and financial experts know
better than anyone how to listen to and understand the +
+ ACTIVE INVOLVEMENT
strategies of the entrepreneurs with whom they partner
IDIA works with the head of the company as a partner
and to whom they contribute financing expertise.
and shareholder, but is not involved in operational
management. IDIA offers to help define and implement
4 IDIA 2009 Annual Report
Communications Department, from left to right:
Sophie Dano, Alessia Amighetti, pascale Crab.
Assistants, from left to right:
laurence le Gall, Fatiha Michelard, Joëlle Scardina, evelyne Kosuth.
With more than e1.2 billion under management, IDIA
can invest e1 million to e100 million per transaction. It
Middle office, from left to right:
coordinates with the Crédit Agricole Group’s networks pedro Moreno, Catherine péjac, Anthony piveron.
and external funds for deals on a national or international
scale, where the Group’s presence is a formidable asset.
As a result, IDIA works to create French market leaders
with international reach.
Regardless of the size of the deal, IDIA can contribute
bespoke financial solutions incorporating equity as well
as mezzanine and senior debt.
As part of one of europe’s leading banking groups, IDIA
has an exceptional network of contacts and a unique
level of access to high-quality business flows. It is
therefore in a prime position to facilitate the growth and
international expansion of the companies it invests in.
2009 Annual Report IDIA 5
expert in agrifood
As part of Crédit Agricole IDIA operates in development
Group’s Private Equity capital abroad:
& Finance Division, IDIA has
partnerships with companies with French
at every stage of the agrifood companies abroad;
CA Agro-Alimentare S.p.A.,
agrifood companies; a fund managed with
the support of IDIA Italia S.r.l.
sectors related to food industries.
LONG-TERM GROWTH CAPITAL IN AGRIFOOD
IDIA also invests in the wine
industry and agriculture: Agrifood companies Agroindustries
and related sectors
agricultural production. LONG-TERM GROWTH CAPITAL IN THE WINE INDUSTRY
LONG-TERM GROWTH CAPITAL IN AGRICULTURE
Farms Forestry, farming
and vineyard groups
LONG-TERM GROWTH CAPITAL ABROAD
French companies Italian companies
6 IDIA 2009 Annual Report
Long-term growth capital
IDIA, the agrifood
and agroindustry partner
IDIA works alongside entrepreneurs:
providing development capital to help enabling a manager/shareholder to lock
finance large-scale development projects; in a portion of his stake through an OBO
(Owner Buy Out) while still benefiting from
arranging transfers such as LBOs and LBIs the company’s future development;
with an expert in the sector;
within the framework of a spin-off;
studying a share reclassification as part
of a capital reorganisation.
Its involvement takes the form of minority
stakes in equity (or a majority holding,
alongside other partners) or, alternatively,
financial instruments that can offer
access to equity.
investments typically amount to between
e1 million and e100 million.
Depending on the invested company’s To become an active, long-term partner
location and profile, IDIA invests alongside for agrifood and agroindustry companies:
regional private equity companies and works
closely with Crédit Agricole Regional Banks by strengthening its presence among
and the LCL network. core target firms worth between e15
million and e300 million with a specific
market position and prospects for
by participating in the sector’s major
deals in cooperation with other financial
with the backing of Crédit Agricole’s
network, which has a high profile in
agrifood finance, with 40% market
2009 Annual Report IDIA 7
Long-term growth capital
in the wine industry
the winemaker’s partner
IDIA manages a fund that invests in majority and minority stakes
in prestigious vineyards.
IDIA manages majority interests IDIA also has minority stakes
in estates in the Bordeaux, in prestigious vineyards, alongside
Burgundy and Madiran regions, the family shareholders.
including: The target properties are valued
at €50-150 million, and the average
q Château Grand-Puy Ducasse
investment target is €5-15 million
Grand Cru Classé Pauillac;
over a 7 to 10 year period.
q Château de Rayne Vigneau
1st Grand Cru Classé Sauternes;
q Château Meyney
q Château La Tour de Mons
Cru Bourgeois Supérieur,
q Château Philippe-le-Hardi
Beaune, Mercurey and more.
the CA Grands Crus team, from left to right:
paul Charrin, Alain Crohem, Alessia Amighetti, thierry Budin.
To help promote the development of
prestigious vineyards and increase
their worth over time:
improving the reputation and
quality of vineyards and estates;
forming lasting partnerships
with winemaking families;
participating as a minority shareholder
in properties producing or with
the ability to produce wines
of international renown.
thierry Budin, Managing Director,
and Anne le naour, technical Director.
8 IDIA 2009 Annual Report
Long-term growth capital
IDIA, the partner
for farm managers
IDIA offers development capital and buyout solutions for efficient farming
businesses with high potential.
IDIA puts together structured financing acquires minority stakes worth
combining equity, convertible bonds between e600,000 and e2 million.
and long-term subordinated debt.
To become an equity partner
in farming businesses, in collaboration
with Regional Banks, for a period
of six to seven years.
From left to right:
nadine Goulu, Catherine Bouchard,
paul lambert, Henri Corbel,
and vineyard groups
IDIA manages 217 land groups (including 31 vineyards) representing
13,100 hectares, and four forestry groups representing 5,200 hectares,
i.e. a total of 18,300 hectares.
Shares in the forestry groups are The vineyard groups are almost
subscribed by the Crédit Agricole all owned by individual clients,
Group and institutional investors. most of whom are customers
of the Regional Banks.
The Crédit Agricole Group has a
majority stake in farming groups.
• Meet the needs of Regional Banks’
individual clients by creating one
or two vineyard groups a year.
• Develop and consolidate forestry
assets as part of a sustainable
2009 Annual Report IDIA 9
Long-term growth capital
IDIA, the partner
IDIA assists French companies in agrifood and agroindustry
with their international development plans, helping them carry out
to finance an acquisition abroad; to strengthen their stakes in existing
To assist French senior managers
with their international plans by playing
a role in organic growth
IDIA in Italy:
CA Agro-Alimentare S.p.A.
With the creation of CA Agro-Alimentare S.p.A., IDIA now provides direct
support for Italian companies, working in partnership with the Cariparma
Foundation and the networks of Crédit Agricole’s Italian subsidiaries
Cariparma and FriulAdria:
executing specific equity helping Italian companies finance
transactions dedicated to their international expansion plans.
companies in the sector;
responding when a company
seeks new investors to finance a
development project, as part of a
share transfer or reclassification;
The target companies are valued at between e10 million and e150 million
and the average investment is between e5 million and e15 million over a period
of 7-10 years.
the IDIA Italia S.r.l. team,
from left to right: Stefano Masini,
Francesco orazi, Alfredo Cicognani,
nicolò Francesco Rienzi, To develop partnerships with companies
in Italy, by drawing on the Cariparma
and FriulAdria networks, which have
a strong presence among Italian companies
in the sector.
10 IDIA 2009 Annual Report
France Frais Grimaud Valade elitech
Business: fresh food distribution Business: poultry farming Business: jams and stewed fruits Business: in vitro diagnostics
Entry dates: 2010 & 2009 Entry dates: 2010, 2008 & 1996 Entry dates: 2009 & 2007 Entry dates: 2009 & 2007
Operation: development capital Operation: development capital Operation: development capital Operation: development capital
Les Maîtres Laitiers du Cotentin Grimaud La Corbière is the world Founded over 100 years ago, Elitech specialises in the produc-
is an agrifood group made up No. 3 in the genetic selection of Valade is France’s leading tion and distribution of reagents
of dairy production units and poultry. The company has built up producer of processed fruits and medical testing equipment
distribution companies that sell three complementary businesses for the catering industry and is for microbiology, biochemistry
to catering firms. The group owns over the past 35 years: an industry standard in private and molecular biology, which it
three milk processing plants in • genetic selection of quality labels. The company has a plant sells to medical testing labora-
Normandy: Sottevast, Valognes poultry; in Lubersac, Corrèze, and as at tories. The leading independent
and Tribehou (50). • duck breeding and incubation; 31 August 2009 had sales of French player in the medical
and approximately €58 million. biology market, Elitech offers
France Frais, a wholly-owned • biotechnologies for human and a wide range of products, with
subsidiary of Les Maîtres Laitiers animal health. k The company’s potential for over 3,000 items used for in vitro
du Cotentin, was founded in the development, the experience diagnostics.
1990s. It comprises more than The group has plants in the of its management team
50 wholesale food companies United States, Europe and Asia, and the possibilities for As at 31 March 2010, Elitech’s
that supply a range of products to and posted sales of €154 million external growth were the total sales reached €80 million.
municipalities, catering firms and in 2009. key factors contributing to To further its international deve-
the traditional sector (restaurants, IDIA’s investment decision. lopment, on two occasions in
small shops, etc.), across the k A shareholder since 1996, IDIA has held a 35% share 2007 Elitech sought backing
whole of France. These products IDIA now owns 11% in Financière Lubersac since from investors, including IDIA, to
include dairy produce, fresh foods of Grimaud. In 2008 and 2009, after having taken finance the acquisition of US
(e.g. meat, deli products and 2010, it took part in the a stake into the company company Wescor and Dutch
salads), frozen foods and dried two-phase acquisition of in 2007. company Vital Scientific, both of
goods such as flour, chocolate, Newsham Choice Genetics, which are specialised in manu-
sauces and canned goods. As the US No. 2. in swine . facturing biomedical equipment.
at 31 March 2009, France Frais genetics, thus allowing the
had generated annual sales worth Grimaud Group to take the k IDIA once again assisted
€690 million. No. 2 position worldwide the group in 2009 in its
in terms of multi-species acquisition of Nanogen’s
k In 2009 and 2010, IDIA genetic selection. Italian subsidiary, which
supported France Frais in specialises in molecular
development capital deals biology kits, and of the
that have made the company company Serfib. IDIA now
a leader in the wholesale From left to right: olivier de pelet,
holds 11% of the capital
fresh food market in France. Janick Belin (Chairman of Valade), in Financière
and philippe Cristao pedro Elitech.
at the lubersac plant.
2009 Annual Report IDIA 11
RESTAURATEURS A PARIS
Malteurop pellenc Socopa Viandes norac
Business: malting Business: agricultural equipment Business: beef and pork products Business: snack foods
Entry date: 2009 Entry date: 2009 Entry date: 2009 Entry dates: 2009 & 2005
Operation: development capital Operation: share reclassification Operation: development capital Operation: development capital
Founded in 1984, the Malteurop Pellenc SA is the leader on two The business of Socopa Viandes The Norac Group operates in
Group is the global leader in the markets: agricultural equipment is the slaughtering and carving five areas: sandwiches (Daunat),
malt industry. It belongs to a (for vineyards, olives and orchards) of beef and pork. The company pastries (La Boulangère), indus-
group of cooperatives, including and handheld power tools for pro- was created by the Socopa trial baking, prepared foods,
Champagne Céréales. Backed fessionals from parks departments Group’s acquisition of these and pastry products (Goûters
by its annual production capacity and local government. business activities in 2009 from Magiques).
of 2.3 million tonnes of malt, it the French leader in the meat
operates 23 malting plants and Based in Pertuis in Southeast supply chain, the Bigard Group. Created over 20 years ago,
employs a total staff of 900. France, Pellenc SA also has an Its industrial sites now provide the company is a leader in its
Following its 2008 acquisition of international presence via its thorough coverage of the whole markets and continues to enjoy
ADM Malting, a subsidiary of US distribution subsidiaries in the of France. It posted sales of €1.4 steady growth.
group Archer Daniels Midland United States, Chile, Australia, billion in 2009. It is mainly present in Western and
specialised in processing barley Morocco and Turkey, and its Northern France and in Burgundy.
into malt, and of a Russian malt production subsidiaries in Spain, k In 2009, IDIA supported In 2009, Norac’s consolidated
factory belonging to Ochakovo, Italy, Slovenia and China. In 2009, Socopa Viandes in a sales reached €469 million.
Malteurop became the leader it generated consolidated sales development capital
on the top three beer markets totalling €101.7 million, over 50% project. IDIA owns 3% k IDIA supported the Norac
in the world (Europe, Asia and of which from outside France. of the company’s capital Group in another development
North America), with an industrial today. capital operation in 2009.
presence on four continents k In 2009, IDIA supported
(Europe, North America, Oceania the company in its share
and Asia) and privileged access reclassification operation.
to all barley cultivation zones. IDIA now holds 14% of the
As at 20 June 2009, the group capital in Pellenc SA.
had generated €743 million in
k In 2009, IDIA supported
Malteurop in a worldwide deal
worth €55 million, aiming
to refinance the group’s
From left to right: Roger pellenc (Ceo), olivier de pelet
and Jean-pierre petavino (executive Vice-president)
at the pellenc site in pertuis.
12 IDIA 2009 Annual Report
tereos participations Val nantais Ariane / Axéréal eurial
Business: sugar Business: ready-to-eat salads Business: milling and malting Business: dairy products
Entry date: 2009 Entry date: 2009 Entry dates: 2008 & 2004 Entry date: 2008
Operation: development capital Operation: development capital Operation: development capital Operation: development capital
Tereos is an international agro- Val Nantais is the leading market Axéréal was formed when two Eurial Poitouraine collects, treats
industrial group that processes gardening cooperative in France. cooperatives, Epis-Centre and and processes milk from three
beets, sugar cane and cereals Its membership counts some Agralys, merged in 2008 to create cooperatives: Colarena Presqu’île,
into sugar, alcohol and starch. one hundred market gardeners one of the leading European Poitouraine and Ucal. The milk is
producing 30,000 tonnes of cereal producers, with sales of processed into several families of
A leading sugar manufacturer in vegetables each year on more €2.8 billion in 2009. Primary products, including dairy produce
France and the Czech Republic, than 1,300 hectares of land. Val processing is handled by Ariane, (cow and goat cheese, butter,
Tereos also ranks third in Brazil Nantais generated consolidated a subsidiary specialised in malt, cream, and organic products),
through its subsidiary Guarani sales of €51 million in 2009, flour and animal feed. pre-sliced frozen cheese ingre-
and is No. 3 in Europe for starch. 50% of which from salads, dients, and milk ingredients
Tereos had sales of more than especially watercress. In 2004, Ariane boosted its malt (casein, powders and mixes).
€3.3 billion in 2009. production business significantly
In view of the increasing number with the acquisition of Belgian The products are sold to large-
k In 2009, IDIA took part of meals being eaten away from malt producer Boortmalt, thereby scale retailers, caterers and the
in a capital increase home and the ongoing changes achieving critical mass on the agrifood industry. Eurial has
by Tereos Participations, in dietary patterns, Val Nantais market and gaining access to the 11 industrial plants in France
which handles the hopes to further develop its ready- port facilities of Antwerp. and employs a staff of 1,250.
international and diversified to-eat vegetable business. In 2009, it generated sales of
businesses of the French In 2008, Ariane acquired the Celbert €548 million, 20% of which in
leader in sugar. This share k In 2009, IDIA invested in Val Group and thus became France’s exports.
issue allowed Tereos Nantais through a convertible third-largest flour producer.
Participations to increase bond issue, the proceeds k In 2008, IDIA assisted
the capital of its Brazilian of which have been used k IDIA organised equity Eurial with the creation
subsidiary, Guarani, listed to build a new 4,500 tonne and quasi-equity financing of its subsidiary HCI,
on the São Paulo Stock capacity packing plant for rounds, including all of which produces industrial
Exchange. IDIA had ready-to-eat goods. Ariane’s financial partners, mozzarella for the global
previously assisted Tereos for these two major deals. market.
in 2002 with its acquisition
2009 Annual Report IDIA 13
Sofial / Glon Group lesieur - Soprol Gad / Cecab Fruité entreprises
Business: animal nutrition Business: edible oils Business: pork products Business: non-alcoholic beverages
Entry date: 2008 Entry date: 2008 Entry date: 2008 Entry date: 2007
Operation: lBo Operation: development capital Operation: lBo Operation: share reclassification
RESTAURATEURS A PARIS
Glon is the French leader in Specialising in oilseed processing The Gad Group is a major player Fruité Entreprises is specialised
animal nutrition, with eight inte- and conversion, the Soprol Group in the French pork market, with in the production and sale of
grated businesses. Animal feed is now the market leader in some 2.7 million pigs slaughtered fruit juices and syrups. It is the
accounts for 2/3 of total sales, France, with 70% of the French annually. IDIA had assisted leading independent French
with the remainder divided oilseed pressing market, 80% with the 2001 merger between producer of non-chilled fruit juices,
between poultry, eggs and pork. of refining, a 60% market share Gad and Prestor, a pig farmers’ and the leader in syrups, thanks in
in edible oils with its Lesieur organisation. This created a particular to the Teisseire brand. In
With a workforce of 3,900 division, and 80% of biodiesel group that spanned the entire 2009, Fruité Entreprises recorded
employees, the Glon Group’s through Diester Industrie and its pork production chain, from pig €324 million in sales.
consolidated sales totalled more subsidiaries. Soprol has 1,350 rearing by Prestor’s suppliers, to
than €1.4 billion in 2009. employees and operates 15 slaughter and cutting, and finally k IDIA acquired a stake
industrial sites. In 2009, it made curing of the finished products. in Fruité Entreprises in 2007
k IDIA underwrote a reserved sales worth approximately €3.9 during a reclassification
capital increase in 2008 billion. k IDIA partnered with of a portion of the shares
and now holds 10% of the group again in 2008 held by its founding
the capital in Sofial, k IDIA took part in Soprol’s for the merger with Cecab’s shareholder.
the holding company 2008 capital increase pork business, which made
that acquired the group. and currently holds Gad the No. 3 in France on
a 5% stake in the group. the market, with total sales
of some €650 million
14 IDIA 2009 Annual Report
AtC Goûters Magiques In Vivo nSA Agrial / Florette
Business: specialised press Business: pastries and crêpes Business: animal health & nutrition Business: ready-to-eat salads
Entry dates: 2007 & 2005 Entry date: 2007 Entry date: 2007 Entry date: 2000
Operation: share reclassification Operation: lBo Operation: lBo Operation: development capital
ATC is one of three specialised Goûters Magiques, France’s No. In Vivo NSA (formerly Evialis) is France’s third-largest multi-
agricultural press groups, deve- 2 producer of pastry products a French leader in animal feed. speciality cooperative by reve-
loping its business of publishing, (madeleines, pound cakes, fruit- Organised in three divisions nues, Agrial is present in
printing and distributing news- cakes, crêpes, etc.), was created – animal nutrition (complete Normandy and Northern Brittany.
papers and journals, principally by a merger of the Galápagos feed), premix and specialities, Its operations cover dairy, meat
in Eastern France. Group’s pastries branch (Gaillard) and animal health – the company and cider (for which it is the French
with Norac Group subsidiaries has subsidiaries in 17 countries. leader), but most importantly,
With more than 15 years of Le Ster and Whaou. Goûters In 2009, In Vivo NSA generated fresh vegetables, a segment in
experience in the digital printing Magiques generated sales of consolidated sales of more than which it is the European leader
of a variety of media, ATC now €96 million in 2009, in the cate- €1.4 billion, approximately 40% across the entire product range.
has five business divisions. ring sector and in supermarkets of which outside France. IDIA, Consolidated sales for the coope-
with its own Le Ster and Whaou alongside the In Vivo Group rative totalled €2.2 billion in 2009.
The company was created by brands. The company is based (Europe’s largest cooperative
François Grandidier, the current in Locminé, Brittany, where it has group and the French leader in k To support the group’s
Chairman and CEO. To boost two plants and employs a staff of the premix market), participated development, IDIA acquired
ATC’s external growth, in 2005 around 450. in the acquisition of a majority Agrial bonds as well as shares
François Grandidier asked IDIA stake in Evialis in 2007. and convertible bonds in its
to take the place of an individual k IDIA holds a 6.7% stake subsidiary, Florette.
shareholder and thus acquire a in Goûters Magiques. k IDIA now owns 20%
30% interest in the company. of Financière Evialis,
the holding company
k At present, IDIA holds a created for the deal,
40% stake in ATC’s capital, and thus helps
following the purchase of to develop synergies
shares from a departing between the two groups.
shareholder. In 2009, ATC
recorded e15 million
From left to right: Bruno Caron (Chairman
of norac), Christian tacquard (Chairman
of Goûters Magiques) and olivier de pelet
at the locminé plant.
2009 Annual Report IDIA 15
In the agricultural sector
PROGRAINES COULEURS D’AQUITAINE JARDIN DE RABELAIS
Development capital investment in Development capital investment Development capital investment at
late 2009 to assist a grower wishing in April 2009 for the commercial year end 2008 in support of one of the
to develop a production/sales restructuring of the Bergerac market leaders in cherry tomatoes:
business for edible seeds: cooperative: Construction of a new 30,000 m²
Area of land planted in 2009: Takeover of SOCAV (2008 sales: greenhouse
250 hectares €11.8 million) Expected annual output
Expected final area: 750 hectares Pooling of commercial equipment of 3,000 tonnes
and resources 2009 sales: €8.3 million
Expected annual sales of 10 million
2009 sales: €17.8 million
In the winemaking sector
Château Grand-Puy Ducasse (Pauillac)
Château Meyney (Saint-Estèphe)
Château de Rayne Vigneau (Sauternes)
Château La Tour de Mons (Margaux)
Château de Santenay (Bourgogne)
Châteaux Montus-Bouscassé (Madiran)
16 IDIA 2009 Annual Report
100, boulevard du Montparnasse
75682 paris Cedex 14
Standard: +33(0)1 43 23 24 24
Fax: +33(0)1 43 23 65 82
Document published by IDIA-SoDICA
Simplified joint stock company with capital of €18,164,829.74
paris trade Register no. 422 069 021
Design and creation:
KAZoAR: +33 (0)1 53 06 32 22
photo credits: D. Cocatrix.
IDIA photo library, thinkstock.
Illustrations: Stéphane Kiehl.