France’s InVivo May Seek More Outside Investors to Grow Grain Trading Business
French agricultural group InVivo has raised $233 million in capital for its animal health and nutrition unit, NSA, from four partners led by investment firm, Eurazeo and including CDC International Capital, Credit Agricole’s Idia unit, and grain sector investment fund, Unigrains. In coming years, the group could turn to outside investors for its other three units, which include grain trading, farm supplies, and retail.
The group, which covers 200 agricultural cooperatives, has been reorganizing as part of its target to double sales in the next ten years from €6 billion to €12 billion.
Over the past year as part of its expansionary plan involving grain trading, InVivo has established a sourcing partnership with U.S.-based Archer Daniels Midland (ADM) and other undisclosed partners, and has established a group office in Singapore to help develop a long-term presence in the region for exporting grain to China.
InVivo plans to leverage the capital raised for its NSA unit to raise an additional €200 million in debt, and states that NSA is still working to finalize an acquisition in Indonesia which it hopes will close in April or May.