Peugeot family bought the company for the production of pepper mill – RBC

Peugeot family bought the company for the production of pepper mill – RBC

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Heirs Peugeot family bought the company for the production of hand mills for pepper, which begins with the family business. It is reported by the agency Bloomberg. Purchase of the plant was under the Peugeot family attempts to diversify their assets.

The company PSP Peugeot SAS, located in the city of Kenji, was founded in 1840 and still exists today. And employs approximately 150 people. In the property of the family Peugeot represented holding Etablissement Peugeot Freres, it returned 16 June 2014. Two years earlier, the company declared bankruptcy. The company’s revenue in 2013 amounted to € 27 million.

Family Peugeot plans to invest in the production of pepper mill € 1,5 billion in the next three years. Members of the family have already approved its proposed plan to restructure the company, including the abandonment of unprofitable production tools and production solely pepper mill in the middle and high price segment.

«We could not think that everything will turn out for us so well about the best outcome can not even dream “- said the acquisition of PSP Peugeot CEO Philippe Rapash in a telephone interview with Bloomberg. “This company – part of the family history, the cradle of business Peugeot. She still bears the name of the family that produced the pepper mill long before she started producing cars ».

Peugeot family beginning to diversify their assets under the direction of Robert Peugeot, head of the family holding Fonciere, financiere et de participation (FFP). Shortly before the acquisition PSP Peugeot Peugeot family has reduced its stake in the automotive concern Peugeot-Citroen from 25.5% to 14.1% by selling it to the Chinese automaker Dongfeng Motor.

The sale of shares has led to considerable differences between the Member States family, mainly between cousins ​​- Thierry and Robert Peugeot. Thierry, formerly head of the board of directors automotive group, opposed the sale of shares and left the company in July. Shortly thereafter, he openly criticized the deal in the French newspaper Les Echos.

Concern PSA Peugeot owned car brand Peugeot and Citroen. In addition, the company includes the financial arm of Banque PSA Finance. In 2013, sales of Peugeot-Citroen Group was € 54,1 billion. In 2012, the company reported a loss of € 5 billion and in 2013 the monthly loss group were up to € 100 million.

Pauline Yesakova

September 9, 2014

RBC