Salins Owners Said to Hire Lazard for Sale of French Saltmaker

Salins Owners Said to Hire Lazard for Sale of French Saltmaker

The private equity owners of Salins
Group are considering a sale of France’s largest salt producer,
three people familiar with the plan said.
Chequers Capital and Abenex Capital, both based in Paris,
hired Lazard to manage the disposal, which may value the company
at about 300 million euros ($394 million), said the people, who
declined to comment because the sale is private.
The company, whose main salt production site is located
near the medieval wall of the southern town of Aigues-Mortes,
makes products that include La Baleine table salt, the more
expensive artisanal salt Fleur de Sel de Camargue, as well as
salt used for icy roads and industrial purposes.
Salins, founded in 1856, produces close to 2.2 million
metric tons of salt, according to its website. Chequers and
Abenex bought Salins from Credit Agricole SA in 2004. It was
sold to Credit Agricole in 2000 for $270 million.
An official for Chequers declined to comment. A spokesman
for Lazard did not immediately respond to requests for comment.
Representatives of Abenex couldn’t be reached immediately.