The merger between the Niel-Pigasse-Zouari SPAC and InVivo Retail approved

The listed company of the Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari trio, 2MX Organic, and the distribution activity (Gamm Vert, Jardiland, etc.) of the agricultural cooperative InVivo announced on Friday the conclusion of "

" that should lead to the emergence of a "

".

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The trio and InVivo announced in a joint press release the "

" provided for in the statutes of the Spac (special purpose acquisition company) of Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari, an empty shell financial vehicle , already listed, which merges with an existing company.

InVivo will be the majority shareholder "

" of the capital of the new company, valued at approximately 1 billion euros.

The industrial founder of Free Xavier Niel, the financier Matthieu Pigasse and the distribution specialist Moez-Alexandre Zouari, a major franchisee of the Casino group and shareholder of the frozen food group Picard, launched 2MX Organic at the end of 2020, with the aim of bringing out a "

.

1,600 points of sale for InVivo in France

With InVivo, the second agricultural group on the European continent with a turnover of 10 billion euros, they want to launch "

" under the "

" brand, specializing in food distribution of fresh and local products, backed by existing garden centers in the InVivo Retail portfolio.

InVivo Retail has 1,600 points of sale in France, 220 of which are directly owned, under the garden center brands Gamm Vert, Jardiland, Delbard, Jardineries du Terroir, pet store Noa, and food distribution brands Frais d'Ici and Bio&Co.

The "

" for the new stores will be done via the "

“, had previously specified the two partners.

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This merger "

", they estimated on Friday.

Following the business combination, which should take the form of a contribution in kind from InVivo to 2MX Organic, the distribution activity of the InVivo group would become a "

" and the cooperative group would therefore majority shareholder of the whole.

A general meeting of shareholders of Spac 2MX Organic is scheduled for July 29, for "

".

This project is subject in particular to InVivo obtaining an exemption from the Autorité des marchés financiers (AMF) from the obligation to file a mandatory public offer, the group "

”.