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Saudi group to acquire minority stake in Doux

November 10, 2013 12:00 am

Saudi food distributor Almunajem is set to sign an agreement with troubled French poultry group, Doux, to take a minority stake, Reuters has reported. “Discussions are well on track,” a Doux spokesman said. The deal, which is due to be signed in the next few days would see D&P, a family-owned investment firm led by Didier Calmels, take 52.5% of Doux, with Almunajem and the Doux family taking the rest. The poultry group laid off about 1,000 workers last year, but still employs 2,400 people.