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A&O Shearman advises InVivo on its public tender offer for Teract

A&O Shearman advises InVivo on its public tender offer for Teract
Published Date
Jun 11 2026
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Image of Frederic Moreau
Frederic MoreauPartner, Paris
Image of Marc Castagnede
Marc CastagnedePartner, Paris
Image of Catherine Maison-Blanche
Catherine Maison-BlancheSenior Consultant, Paris
Image of Antoine Messent
Antoine MessentAssociate, Paris
Image of Aresse Chegra
Aresse ChegraAssociate, Paris
Image of Charles del Valle
Charles del VallePartner, Paris
Image of Thibault Faivre-Pierret
Thibault Faivre-PierretSenior Associate, Paris
A&O Shearman advised InVivo, one of the leading European agricultural groups, in connection with its tender offer followed by a mandatory squeeze-out of Teract, a major French player in food retail, bakeries, gardening and pet shops.

Teract originated from the combination of SPAC 2MX Organic, created by Xavier Niel (founder of Groupe Iliad), Mathieu Pigasse and Moez-Alexandre Zouari (founder of Picard Surgelés), with InVivo's retail activities, to create a sustainable and responsible retail player.

On February 5, 2026, InVivo, acting in concert with the three founders of 2MX Organic, filed a public tender offer with the AMF (Autorité des marchés financiers) for all Teract shares and listed securities not already owned by them. The squeeze-out of minority shareholders took place in early June 2026. Following completion of the squeeze-out, InVivo acquired all Teract shares and other securities held by the three founders. 

“We are delighted to have advised InVivo on this strategic transaction, which marks a new milestone in the consolidation of its retail activities and reflects the strength of our Paris M&A team on the most complex transactions in the market.”

The A&O Shearman team comprised partner Frédéric Moreau, partner Marc Castagnède, senior counsel Catherine Maison-Blanche, senior associate Antoine Messent and associate Aresse Chegra on the corporate aspects, and partner Charles Del Valle and associate Thibault Faivre-Pierret on the tax aspects.

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