Grands Moulins de Paris, Euromill and Inter Meunerie SA announce plans to merge operations Paris, Thursday April 5, 2001

The management teams and employees of Grands Moulins de Paris, Euromill, and Inter-Meunerie SA (Inter-Farine), Champagne Céréales and Nouricia (two cooperatives, cereal/milling, in Eastern France), Unigrains (Société d’Investissement des Céréaliers de France (French grain growers’ investment company) have partnered to form a joint venture to consolidate their three milling businesses.

By creating the joint venture, the partners seek to step up development in France and abroad through the sale of added value products of French wheat-producing sector.
Each milling company will pursue its growth strategy by offering its clients stringent food safety standards, a new research and development thrust, and an extensive logistical network.

With a total of 1.5 million tons of French wheat processed annually and a workforce of 2,700, the new alliance is projecting annual sales of FF 4 billion (€ 610 million).

AXA Private Equity, which led the acquisition of Grands Moulins de Paris in 1998, worked closely with GMP management to make this industrial partnership possible. AXA Private Equity will sell its equity interest in the course of the merger.

Press Contacts:

GRANDS MOULINS DE PARIS Tel.: +33 1 49 59 75 20 (Aline COUVREUR)
CHAMPAGNE CEREALES Tel.: +33 3 26 78 63 77 (Guillaume PETIT)
NOURICIA Tel.: +33 3 25 39 57 10 (Pierre BOULOC)
UNIGRAINS Tel.: +33 1 44 31 16 45 (Laurent MOMAS)