France's Avril signs deal to buy rapeseed plant from Valtris

PARIS -French agrifood group Avril said on Friday it had signed an exclusivity agreement with U.S.-based Valtris Specialty Chemicals to acquire a rapeseed processing plant in eastern France, amid growing consolidation among European rivals.

The facility processes around 400,000 metric tons of rapeseed annually, focusing on crushing, refining, and biodiesel production, Avril said in a statement.    

The plant's activities lie at the heart of Avril's core business, with a highly complementary geographic location, the group said.

Avril declined to disclose the financial terms of the deal, which remains subject to consultations with employee representatives and approval from competition authorities.

Valtris will retain operations for its specialty chemical production at the same site, ensuring continuity for its core business activities.

(Reporting by Sybille de La Hamaide. Editing by Mark Potter)