McCain, Crédit Agricole and GAPPI collectively create an unprecedented financing offer at the service of farmers in the potato sector to promote sustainable farming practices

10 May 2022

Villeneuve d’Ascq, France (May 10, 2022) - McCain, the Canadian world leader in frozen potato products, Crédit Agricole, 1rst bank for farmers in France, and GAPPI - (Potato Growers Representatives Association for Industry in France) - announce the signing of an unprecedented financing agreement which will be accessible to farmers from this 2022-2023 season.

This partnership between three major players in agriculture in France aims to offer financial support to farmers to assist them in the implementation of regenerative farming practices. By mobilizing actors on the ground alongside him, McCain puts the collective at the service of financing the agricultural transition.

This agreement will make it possible to grant bank loans under exclusive conditions to farmers wishing to invest in practices, equipment and technologies allowing the transition to regeneration agriculture, with controlled risk and increased competitiveness over the long term.

These unprecedented financing solutions are part of a "transition package" - framed by a specific contract - made available to its farmers by McCain on a voluntary basis and which is based on a component that is both economic: long-term commitment (6 years), regenerative agriculture bonus, commercial guarantees, financing solution and a technical component: training, technical support, network of experts (pilot farms, satellite farms).

This initiative is aimed at the hundreds of farmers in France who already collaborate exclusively with McCain and at those who might do so. As such, with a global envelope released by Crédit Agricole of up to 40 million euros, they will be able to benefit from advantageous loans, without administration fees and without having to provide a guarantee. A preferential rate will be applied to these financings, the interests of which will be financed by McCain within the framework of this mechanism.

This initiative will thus offer farmers an offer designed specifically to ensure the financing of their investments, linked to the deployment of regeneration agriculture, under preferential conditions.

  • A system that is part of McCain's commitments to responsible and sustainable agriculture

This agreement is part of the McCain Group's overall strategy for responsible and sustainable agriculture, which is one of the group's four pillars for sustainability. It builds on the historical partnership and the direct relationship for 40 years between McCain and its partners to promote and establish a base of good agricultural practices within potato growing areas. It is part of the group's commitment to mobilize 100% of farmers around regeneration agriculture by 2030.

Regenerative agriculture aims to put the soil back at the heart of the production system, in order to improve its quality, ensure better resilience while preserving biodiversity. The soil is thus at the heart of the approach, it should be considered both as a production element and as a real carbon sink, helping to reduce greenhouse gas emissions and curb the effects of climate change.

At McCain, these practices revolve around 7 pillars: increasing soil organic matter, improving the biodiversity of farms and ecosystems, reducing the toxicity of phytosanitary products, reducing the impact of inputs and optimizing the use of water, reduce tillage (ploughing), diversify cultivated species (vegetation cover – crop rotation).

The volunteer farmers will thus engage in a process of progress calibrated over 6 years with 3 levels: Beginner – Confirmed – Expert.

Leslie Camus, Vice-President Agriculture - McCain Continental Europe:
"This agreement is a concrete illustration of McCain's commitment to a large-scale and innovative transition of agricultural practices. Faced with climate challenges, we must collectively build the agriculture of the future and sustain potato production in our growing areas in France and Europe. We are taking a new step with this tripartite agreement and are convinced that it is by acting collectively that we will be able to progress and find solutions. We are happy to be able to count on the support of leading partners such as Crédit Agricole and GAPPI to accompany us in this process at the service of all partner farmers, the first ambassadors in the field of McCain's ambition."

Christian Valette, Managing Director - Crédit Agricole North of France:
"The Crédit Agricole Group is committed to regional agricultural and agri-food transitions. The Regional Banks locally support the initiatives of farmers, producers and industrialists in the sector and support projects that contribute to decarbonizing agriculture. With this three-way partnership, which sees the involvement of four Regional Banks – Nord de France, Brie Picardie, Nord Est and Champagne Bourgogne – an innovative regenerative agriculture project is born. We are happy to support McCain and the farmers grouped in the GAPPI with this system which is fully in line with the Societal Project of the Crédit Agricole Group."