Rejection of Matthieu Pigasse's bid for Fibre Excellence: 670 jobs at risk

· Fibre Excellence, Matthieu Pigasse, redressement judiciaire, emplois menacés, pâte à papier

Rejection of Matthieu Pigasse's bid for Fibre Excellence: 670 jobs at risk

The Toulouse commercial court rejected Matthieu Pigasse's takeover bid for Fibre Excellence due to unmet state commitments. A potential buyer may save the Saint-Gaudens site, but the Tarascon plant faces partial liquidation.

Rejection of Matthieu Pigasse's takeover bid for Fibre Excellence

The Toulouse commercial court rejected, on July 27, 2026, the takeover bid for Fibre Excellence presented by financier Matthieu Pigasse. This decision leaves uncertainty over the future of the group's 670 employees.

Conditions unmet for Pigasse's bid

Matthieu Pigasse's bid included the preservation of all 670 jobs. However, it was conditional on state commitments regarding three points: a reduction in electricity costs, facilitated wood supply through the National Forestry Office (ONF), and reintegration into the European carbon quota system. The government did not meet these demands, rendering the bid inadmissible according to the company's Social and Economic Committee (CSE) lawyer, Christophe Clerc.

A reprieve for the Saint-Gaudens site

An anonymous industrialist has expressed interest in taking over the Saint-Gaudens site in Haute-Garonne. This potential buyer has until July 30, 2026, to confirm their intention by depositing a two-million-euro guarantee. This step could grant a reprieve until the end of August to finalize a takeover offer. The site employs 270 people.

The court ordered partial liquidation for the Tarascon site in Bouches-du-Rhône, which also employs 270 people. No buyer has come forward for this site.

Employee reactions and outlook

Employees at both sites have been occupying their plants for several days. In Saint-Gaudens, they express fatigue and anger over the uncertainty. "All of this is because of the state. If they had stepped in, we wouldn't be here," said one employee. In Tarascon, employees are preparing for a definitive closure.

Fibre Excellence, placed in receivership at the end of April 2026, was France's leading pulp producer. Its Indonesian shareholder, Jackson Wijaya, had stopped investments after injecting nearly 300 million euros into the group.

Key Points

  • The Toulouse court rejected Matthieu Pigasse's takeover bid for Fibre Excellence on July 27, 2026
  • The bid was conditional on state commitments (electricity, wood, carbon quotas) that were not obtained
  • An anonymous buyer could potentially save the Saint-Gaudens site (270 jobs) under conditions
  • The Tarascon site (270 jobs) is undergoing partial liquidation, with no buyer in sight
  • Employees are occupying the plants, criticizing the state's inaction

Sources

  1. France Info Économie - "Matthieu Pigasse's takeover bid for Fibre Excellence rejected by the commercial court". (secondary)
  2. France Info - "Matthieu Pigasse's takeover bid for Fibre Excellence rejected by the commercial court". (secondary)
  3. France Info Économie - "Fibre Excellence still without a buyer after the rejection of Matthieu Pigasse's takeover bid". (secondary)
  4. Challenges - "Fibre Excellence's future in question: after the rejection of Pigasse's takeover bid, an industrialist considers saving one of the two sites". (secondary)
  5. BFM Business - "'The bid is inadmissible': Toulouse commercial court rejects Matthieu Pigasse's takeover project for Fibre Excellence". (secondary)

Transparency: 5 sources (0 primary, 5 secondary). Verification: July 28, 2026.

Truthyx - July 28, 2026