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Bonduelle

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Bonduelle S.A.
Company typeSociété Anonyme
Euronext Paris: BON
IndustryFood processing, Waste Management
Founded1853
FounderLouis-Antoine Bonduelle-Dalle & Louis Lesaffre-Roussel
HeadquartersVilleneuve d'Ascq, France
Key people
Christophe Bonduelle (Chairman)
Xavier Unkovic (CEO)
ProductsCanned food, frozen food
RevenueIncrease 2.288 billion € (2017)
-72 millions euros € (2018)
Number of employees
9,569 (in 2013/2014)
SubsidiariesNortera Foods
Websitewww.bonduelle.com

Bonduelle is a French company producing processed vegetables.

History

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  • The company was founded in 1853,[1][2] when Louis Bonduelle-Dalle (23 October 1802 - 13 November 1880) and Louis Lesaffre-Roussel (1802–1869) established a grain and juniper berry distillery in Marquette-lez-Lille. On June 17, 1862, they expanded to a farm in Renescure, which they turned into a grain alcohol distillery.
  • 1901 the company and its seven production sites were divided into three family-owned companies: Bonduelle, Lesaffre, and Lemaître.
  • 1926 the business began canning peas. Demand in the 1930s enabled the company to expand, but the firm's operations were suspended in 1940 through the end of World War II.
  • In the mid-1960s, the company began to improve its exports, and in 1968, began freezing vegetables. Several European subsidiaries were launched: in Germany in 1969, in Italy in 1972 and in England in 1973. By 1973, exports accounted for half of the company's turnover.
  • 1980, Bonduelle acquired the Belgian canned food company, Marie Thumas,[3] and purchased Cassegrain in 1989.[4]
  • The company continued to grow internationally, adding subsidiaries in Brazil in 1994 and Argentina in 1996.
  • 1997, the company entered the "fresh processed" business with the acquisition of Salade Minute.[5]
  • In 2004, the Bonduelle Group created the Louis Bonduelle Foundation, which aims to promote the public use of vegetables by putting the benefits of vegetables to the public good.
  • 2007, Bonduelle completed its acquisition of Canadian firm Aliments Carrière (Arctic Gardens brand), a leader in vegetables and frozen foods, which enabled gave it access to 39,500 hectares of farmland.[6]
  • 2010, Bonduelle bought France Champignon, a leading European mushroom company.[7]
  • 2011, Bonduelle inaugurated the San Paolo d’Argon plant in Italy, the largest packaged green salad production site. Bonduelle took over the Kelet Food assets in Hungary and the Cecab Group assets in Russia. In the United States, Bonduelle bought 3 frozen food plants and a packaging site from the Allens Group.
  • 2017, Bonduelle acquired Ready Pac Foods, an American based manufacturer of food products featuring fresh produce.[8]
  • In April 2018, the company announced Guillaume Debrosse as the new CEO.[9] In May 2023, the group announced Xavier Unkovic as its new CEO.[10][11]

Controversies

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Operation in Russia

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See also: 2022 Russian invasion of Ukraine

In a press release originally published on March 17, 2022, Bonduelle stated on their website that they would continue to operate in Russia but that the company will "dedicate all of our profits from sales in Russia to the future reconstruction of Ukraine".[12]

On December 24, 2022, social media reports from members of NAFO (group) pointed to Bonduelle's Eurasia CEO, Ekaterina Eliseeva having authorised the sending of 10,000 "holiday boxes" with canned corn and peas to the Russian military at the frontlines, along with a message wishing the Russian forces “a speedy victory”.[13] Alleged photos showing the gifts would originate from the Russian city of Yartsevo's Russian social network site on VKontakte.[14] French human rights freelance journalist Stéphane Kenech would investigate the pictures and show how Bonduelle's food makes it to frontline Russian soldiers operating in Ukraine.[15]

On December 31, 2022, Bonduelle would issue a response to the allegations claiming them as "fake", stating that Russian social media was spreading misleading information and that Bonduelle would continue to operate in Russia.[16] Ukrainian National Agency on Corruption Prevention lists Bonduelle among International Sponsors of War.[17]

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On December 31, 2022, Twitter users identified a 2019 Forbes Russia article showing that Bonduelle's Eurasia CEO, Ekaterina Eliseeva had previously attended and received translator training at the FSB Academy and graduated in 1995.[18] The company has responded that the allegations against its management are false.[16]

Brands

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  • Bonduelle (Europe, Americas)
  • Cassegrain (France)
  • Globus (ex-CEI)
  • Arctic Gardens (Canada)
  • Del Monte (Canada) (processed fruit and vegetables only)
  • Ready Pac Foods (US)

Financial data

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Financial data in million Euros[19]
Period July 2013 - June 2014
Turnover 1,921
Operating income 103
Net profit 15
  • 9,569 full-time equivalent employees in 2013/2014
  • 48 industrial sites
  • 100,000 hectares cultivated by 3,440 farmers under contract.
  • Canned goods make up 51%[20] of turnover, fresh vegetables (including the line of ready-to-eat products)account for 22%[21] and frozen foods account for the remaining 27% of the company's sales turnover.

Stock market data

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  • Shares traded on the Paris Stock Exchange
  • Member of the CAC Mid & Small, CAC All Shares, CAC All Tradable
  • ISIN code = FR0000063935
  • Face value = Euro
  • Shareholder breakdown:
    • General partners 27.63%
    • Other members of Bonduelle family 24.75%
    • Public 38.80%
    • Employees and treasury shares 8.81%
Stock market data as of 30 June 2014[22]
Outstanding securities 32 million €
Stock market capitalisation 685.12 million €
Average monthly trading volume 330,184

Governance

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The following served as officers of the company:[23]

  • Chief Executive Officer: Xavier Unkovic
  • Non-Executive Chairman: Christophe Bonduelle[2]
  • Director, Bonduelle Development: Benoît Bonduelle
  • Director of External Relations and Sustainable Development: Jean-Bernard Bonduelle
  • Human Resources Director: Bruno Rauwel
  • Administrative and Financial Director: Grégory Sanson
  • Director, Bonduelle Long Life Europe : Philippe Carreau
  • Director, Bonduelle Americas: Daniel Vielfaure
  • Director, Bonduelle Fresh Europe: Pascal Bredeloux

References

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  1. ^ Bonduelle (2010). "History of the Bonduelle Group". Archived from the original on 8 July 2011. Retrieved 3 January 2011.
  2. ^ a b "Bonduelle names new c.e.o." Retrieved 2018-04-09.
  3. ^ "Conserven zijn ten dode opgeschreven". Het Nieuwsblad (in Flemish). Retrieved 2018-04-10.
  4. ^ "Le menu très équilibré de Bonduelle - Les Echos". www.lesechos.fr (in French). 24 October 2013. Retrieved 2018-04-10.
  5. ^ Actualités, LSA – Libre Service. "Adieu Salade Minute, bonjour Bonduelle". lsa-conso.fr (in French). Retrieved 2018-04-12.
  6. ^ "Conagra to shed Canadian processed vegetable, fruit business | Country Guide". www.country-guide.ca. 20 February 2018. Retrieved 2018-04-10.
  7. ^ Anonymous (2010-04-13). "Bonduelle takes over France Champignon". www.mushroombusiness.com. Retrieved 2018-04-10.
  8. ^ And Now You Know - Produce Industry News (2017). "Bonduelle Completes Acquisition of Ready Pac Foods". Retrieved 21 March 2017.
  9. ^ Magazine, ESM. "France's Bonduelle Group Appoints New CEO | ESM Magazine". ESM Magazine. Retrieved 2018-04-09.
  10. ^ Best, Dean (2023-05-22). "Bonduelle names Xavier Unkovic new CEO". Just Food. Retrieved 2023-08-31.
  11. ^ "Bonduelle Group Names Xavier Unkovic As New CEO". ESM Magazine. 2023-05-23. Retrieved 2023-08-31.
  12. ^ "BONDUELLE STATEMENT ON UKRAINE AND RUSSIA". 17 March 2022. Retrieved 2023-01-02.
  13. ^ @ritornellanyc (December 30, 2022). "French company @Bonduelle_Group is still doing business in 🇷🇺, but now they sank even lower - the head of Bonduelle in 🇷🇺 Ms. Eliseeva said they sent 10000 holiday boxes with canned corn and peas to the 🇷🇺 military at the frontlines, and wished them "a speedy victory" 🤬🤬🤬" (Tweet) – via Twitter.
  14. ^ "Bonduelle dément avoir envoyé des colis alimentaires aux soldats russes". Yahoo Finance. 2 January 2023. Retrieved 3 January 2023.
  15. ^ Stéphane Kenech [@stephanekenech] (December 31, 2022). "Did Bonduelle deliver parcels to Russian soldiers? On social networks, images are circulating. "Dear soldier, happy new year! We wish you the best and a quick victory! is written on a basket held by a person wearing a blue and white t-shirt" (Tweet) – via Twitter.
  16. ^ a b "Denial - Following the dissemination of false information" (PDF). Bonduelle. 31 December 2022. Retrieved 3 January 2023.
  17. ^ "Bonduelle". NACP. Retrieved 25 August 2023.
  18. ^ Mitkevich, Anastasia (9 August 2019). ""Всегда прыгайте выше головы": карьерные советы главы Bonduelle". Forbes.ru. Retrieved 3 January 2023.
  19. ^ Bonduelle (2010). "History of the Bonduelle Group". Retrieved 3 January 2011.
  20. ^ "Canned vegetables". Bonduelle. Retrieved 2013-05-20.
  21. ^ "Fresh vegetables". Bonduelle. Retrieved 2013-05-20.
  22. ^ Bonduelle (2010). "History of the Bonduelle Group". Retrieved 3 January 2011.
  23. ^ Bonduelle (2010). "History of the Bonduelle Group". Retrieved 3 January 2011.
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