OMER-DECUGIS & CIE : Omer-Decugis and Cie acquires Anarex, a wholesaler specialising in ethnic and exotic products based in the Paris-Rungis International Market

Rungis, 13 December 2021 – Omer-Decugis & Cie (ISIN: FR0014003T71 – symbol: ALODC), an international group specialising in fresh and exotic fruits and vegetables, has bought 100% of the shares in French family business Anarex SAS, a wholesaler specialising in ethnic and exotic products and based in the Paris-Rungis International Market since 1982.

The acquisition takes forward the Group's strategy, presented at the June IPO, of developing the wholesale range by expanding commercial space and seeking out new markets. Integrating Anarex will allow the Group to seize new opportunities for developing its specialty ranges for the exotic and ethnic shelves of SIIM's large and medium-sized retailers and Bratigny's customers, particularly in the plantain, root vegetable and other tropical fruit & veg segments (safou, ambarella, chillies, kola nuts, etc.).

Vincent Omer-Decugis, Chairman and CEO of Omer-Decugis & Cie, said: “Our first acquisition since the IPO will further strengthen our drive for growth, building on this year's strong performance marked by a 15% increase in revenue. It is perfectly consistent with the Group's development strategy and creates synergies with both divisions, SIIM and Bratigny, on products sourced from regions where the Group is eager to expand, particularly in Africa, and targeted at a high-value added market segment.”

Yves Martel, Chairman of Anarex, added: “I am delighted that the family business founded by my father in 1982 is joining another family Group that shares our strong values of balanced and sustainable development alongside our partners and has the same passion for exotic and ethnic products. Our product ranges and markets complement each other. There will be considerable synergies. I am proud to form part of the Group and, along with the whole Anarex team, to help drive Omer-Decugis & Cie's development over the coming years.”

Anarex has a 5-door store in building D3 and 8 employees. For the financial year ended 30 October 2021, the company posted turnover of €3.5 million and EBITDA[1] of €0.19 million. Anarex is widely known and respected for its expertise in the importation and distribution of exotic and ethnic fruit and vegetables and has built a reputation as a specialist in many products that are increasingly sought-after in France. “The market for ethnic products is a specialist business that requires both technical knowledge of import and provenance systems across many countries and expertise in designing product ranges that meet the needs of knowledgeable and demanding consumers”, SIIM Sales Director Jean-François Vallet explained. “With this acquisition we have consolidated our offering in the “ethnic” segment, a market where we aim to expand, building on our position in plantains, root vegetables, sweet potatoes and other more staple exotic products. Market-wise, the ethnic range has been developing since the mid-80s in France and Europe. It first emerged to serve ethnic minority communities established in Europe but is now attracting many new consumers in search of new flavours.”

Anarex will report directly to Bratigny, the bridgehead for the Group's wholesale division. “This is a double opportunity for our wholesale division,” said Boris Richeux, CEO of Bratigny. “Our expanded sales space in the Rungis “Carreau”, which now includes 21 “doors” in 2 buildings – the original D2 plus D3 – will allow us to capture new customers, giving us a clear competitive edge. We will also fill out our ethnic range, complementing our exotic fruits offer, which is particularly attractive in the Paris region.”

The acquisition of all shares in Anarex SAS will be fully self-financed from Group cash. Current chairman Yves Martel will oversee the transfer of Anarex's business. Anarex will be consolidated as of December 11, 2021.

Next releases:

• FY 2020/21 results, 24 January 2022 (after close of trading)
• Q1 2021/22 turnover, 15 February 2022 (after close of trading)
• AGM, 22 March 2022

Read more: www.omerdecugis.com

About Omer-Decugis & Cie

Founded in 1850, Omer-Decugis & Cie is a family group which specialises in fresh fruit and vegetables, particularly exotic ones, for European consumers. The Group covers the entire value chain from production to imports and has specific expertise in ripening. The Group markets fruit sourced mainly from Latin America, Africa and Europe through all distribution networks (supermarkets and superstores, out-of-home foodservice, specialised distribution and fresh cuts). Committed to sustainable agriculture that is respectful of regions and people, the Group obtained an “Exemplary” ESG EthiFinance rating of 81/100. Established in the Rungis market, Omer-Decugis & Cie posted revenue of €137,7 million at 30 September 2021, representing over 118,000 tonnes of fresh fruits and vegetables distributed.

Contacts

[1] Earnings before interest, tax, depreciation and amortisation

Source Actusnews