Crédit Agricole Assurances becomes a long-term shareholder of the Rungis market

Change in shareholding within Semmaris, the operator of the Rungis National Interest Market: Altarea is transferring to Crédit Agricole Assurances the control of the holding company Alta Rungis, now called Predi Rungis, which owns 33.34% of Semmaris.

Crédit Agricole Assurances wishes to support Semmaris as a reference shareholder alongside the State by supporting the company's strategy.

As a key player in French agri-food excellence, Semmaris wants to pursue its strategy and support wholesalers as well as all market operators, in order to ensure the continuity of its general interest mission.

The governance of Semmaris remains unchanged: its capital is held by the State (33.34%), Predi Rungis (33.34%), the City of Paris (13.19%), the Department of Val-de-Marne (5.60%), the Caisse des Dépôts et Consignations (4.60%), and professionals (9.93%).

"We are proud to have supported Semmaris for eleven years. We have contributed actively to its transformation and development and are convinced that Crédit Agricole Assurances will take over and carry a long-term vision and an understanding of the issues at stake at Semmaris. We will continue to be involved in the future of the Rungis National Interest Market", declared Alain Taravella, Chairman and Founder of Altarea Cogedim.

"Crédit Agricole Assurances is pleased to become a reference shareholder in the Rungis National Interest Market, a key, recognised player in the distribution and support of the French agri-food sectors, whose culture and values we share. This shareholding is fully in line with our long-term investor strategy. Together with Altarea, we will draw on the expertise of the management and teams in place to pursue the development strategy initiated, continue to strengthen Semmaris' influence and ensure the sustainability of the Rungis National Interest Market" said Frédéric Thomas, Chief Executive Officer of Crédit Agricole Assurances.

"I am pleased that Crédit Agricole Assurances has become a shareholder in Semmaris. This is in line with our strategy and will strengthen the ties we have with all our partners, both upstream and downstream, and provide us with support in the long term. I am grateful for Altarea's support, active cooperation and loyalty which has enabled us to speed up our development over the years with the launch of our Rungis 2025 Plan, which provides for more than €1 billion in investments" added Stéphane Layani, Chairman and CEO of Semmaris.