Joffe & Associés (Thomas Saltiel, Rudy Diamant, Paddy Pascot and Clémence Bressolin) is advising ITK on its acquisition by leading livestock services provider Innoval. The group, based in Noyal-sur-Vilaine, is acquiring a stake in ITK, a company specialising in artificial intelligence for agriculture.
Joffe & Associés (Thomas Saltiel, Rudy Diamant, Paddy Pascot and Clémence Bressolin) is advising ITK on its acquisition by leading livestock services provider Innoval. The group, based in Noyal-sur-Vilaine, is acquiring a stake in ITK, a company specialising in artificial intelligence for agriculture.
Based in Ille-et-Vilaine, the Innoval cooperative group has 30,000 member farmers and employs more than 1,800 people in 26 French départements, mainly in the Grand Ouest region. In 2022, Innoval is forecasting sales of almost €210,327,000. ITK uses science and artificial intelligence to develop solutions aimed at improving the technical, economic and environmental performance of agricultural production systems, through its 3 production sites: Rennes, Montpellier and San Francisco.
On Tuesday 31 October 2023, Innoval announced that it had become the majority shareholder in ITK. This transaction marks the withdrawal of Starquest and the EDF group, which had increased its stake in December 2021. The founder and chairman of ITK, Eric Jallas, who returned to head the company last January, has been replaced.
With this acquisition, Innoval Group aims to accelerate the modernisation of its customers’ farms. Yann Lecointre, the group’s founder, believes that by joining forces with ITK, the group is strengthening its capacity for innovation, moving from observing events on farms to anticipating them.
