Group helps King Tree grow in the agrifood market
The customer's bank, Crédit Agricole Nord de France, the Nord Midi Pyrénées Regional Bank and Crédit Agricole S.A. provided €15 million for the creation of King Tree in June 2016 at Arras (Hauts de France).
In the Tarn département, close to the forests, this business will produce chestnut tree extracts for animal feed.
Chestnut tree extracts have very advantageous properties for animal health and could substitute for antibiotics.
Over time, the project sponsors will also look at applications for human beings. This investment saved a local wood panel factory from closing, saving jobs.
Last April, King Tree graduated from the Caisse des Dépôts PIA Investing for the Future programme.