DEAL STORY - FCA Fertilisants
“Agriculture is a long-term endeavour. So are we.”
Charles François - Senior Investment Director
In July 2026, CREADEV acquired a majority stake in FCA Fertilisants. Charles François, Senior Investment Director within CREADEV’s FOOD team, takes us behind the scenes of a deal that took nearly a year to complete.
CHARLES, YOU PLAYED A KEY ROLE IN THIS DEAL. PROUD OF YOURSELF?
Mostly proud of my team! I worked on this deal alongside my CREADEV colleagues Pierre Tribondeau, Clément Cazaux and Bénédicte Monpert, our Managing Director for Food. We all brought very complementary skills to the table. And we really clicked with the FCA team.
WHAT WAS YOUR FIRST IMPRESSION WHEN YOU MET FCA'S CEO, PASCAL TRONÇON?
Tall, charismatic, with a direct gaze that seems to size you up instantly. A firm handshake and ten business ideas a second.
AND YOUR SECOND IMPRESSION?
He's not a dreamer, he's a visionary. Coming from a farming family, Pascal founded FCA 35 years ago, pioneering low-carbon fertilisers. Back then, everyone thought he was from another planet!
Today, he knows his market inside out, carefully calculates every move and thinks several steps ahead. He also has a genuinely warm and approachable personality. I recently accompanied him to the agricultural fair in Châlons-sur-Saône, and I can tell you he's as well-liked as he is respected!
A DEAL IS ALSO A COMPETITION…
Absolutely. Several investment firms were in the running at the start. But as discussions progressed, we eventually secured exclusivity.
One day, Pascal took the train to Paris to meet us. What was supposed to be a 90-minute meeting turned into an entire day together. That was a real turning point.
WHY DO YOU THINK CREADEV WON?
I don't want to speak for Pascal, but I sensed that he appreciated Creadev's family and entrepreneurial roots, as well as our long-term commitment.
Pascal wasn't looking for a passive shareholder, but for a genuinely engaged partner! What mattered most to him was understanding what we intended to do with the company he had spent his life building.
HOW DID PASCAL HANDLE THE JOYS AND CHALLENGES OF DUE DILIGENCE?
With tremendous stamina and curiosity! He wanted to understand every detail.
It was his first M&A transaction, but he quickly got up to speed. Some of the legal requirements caught him a little off guard, but he and his team fully embraced the process.
WHAT MADE YOU SO KEEN TO INVEST IN FCA?
FCA ticks all our investment boxes: a profitable, established company operating in a growing market.
But there's also Pascal, his teams, and an issue that matters to us as citizens: European food sovereignty and the development of alternatives to conventional fertiliser production methods.
WHAT WAS THE VALUATION?
Professional secret. Next question?
SO, WHAT'S NEXT? WHAT'S THE PLAN FOR FCA?
To build a European champion in soil health.
We want to expand FCA's product range, accelerate its international development and pursue acquisitions.
We bring our experience, our network and our hands-on support.
We want to take this company far, very far. We're setting no limits… And luckily, we have many years ahead of us. There's no stopwatch ticking!
SO, SHALL WE CATCH UP IN A FEW YEARS TO SEE HOW THE DEAL HAS PROGRESSED?
Deal!
