Groupe Grimaud sells all shares to president
Groupe Grimaud announced it has sold all its shares in Grimaud Farms of California, Inc, to its current president Rheal Cayer, whom therefore becomes the sole owner.
Grimaud Farms of California was founded by Groupe Grimaud in the mid 80s. At that time, the main activity was the multiplication of Muscovy ducks. In order to satisfy the demand of the American market, the company added grow out, processing and distribution of its products to specialised high end users.
Rheal Cayer joined the company in 2001 and became president in 2003. After the acquisition of Hubbard in 2005 (broiler chicken genetics) and the strategic alliance with Newsham Choice Genetics (swine genetics) this year, this transaction follows the intention of Groupe Grimaud to focus its development upstream in animal selection and health where Grimaud Farms was not involved. It is reported that the transaction will allow Rheal Cayer to realise his entrepreneurial project.
Through its various divisions involved in selection and multiplication of poultry, Groupe Grimaud will remain a partner to Grimaud Farms of California.
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