From its Normandy grasslands, Isigny Sainte-Mère feeds 2.5 million babies in nearly 100 countries and distributes its outstanding dairy products to the shelves of American supermarkets and the kitchens of the world’s greatest chefs. This openness to the global market comes with a high level of risk: distant markets, complex regulations and a diverse range of trading partners. Behind this export success lies a proactive approach to commercial risk management built up over more than 30 years with Coface.
Benoît Aubry, Chief Financial Officer, explains how the cooperative turns risk into a lever for growth.
From a century-old cooperative to a global player: the roots of masterful exporting
Isigny Sainte-Mère is, above all, a land and hundreds of farming families for generations. Over a century of history, Isigny Sainte-Mère has navigated many economic crises and industrial revolutions without ever renouncing its cooperative model.
A unique model embodied by its 1,250 employees and the hundreds of farming families who, every day, transform their unique dairy products into an outstanding range renowned worldwide: Isigny AOP butter, Isigny AOP cream, Camembert de Normandie, Label Rouge Mimolette, and even a world-class powdered infant formula. These products are distributed across every continent and today account for several hundred million euros in export turnover.
What the cooperative cannot relocate — its territory, its expertise, its origin labels — is precisely what appeals to its customers across the globe. But operating in over 100 countries also means facing multiple risks: commercial, regulatory, financial, environmental, technological and even cultural! So, every time it enters a new market, Isigny Sainte-Mère is committing to much more than just a commercial contract.
When exporting, we cannot afford to improvise.
When we make a decision, we are committing to far more than just turnover: we are accountable to producers and consumers worldwide
Benoît Aubry, Chief Financial Officer of Isigny Sainte-Mère.
A century-old cooperative, products exported to over 100 countries, 2.5 million babies fed every day… And the conviction you don't have to choose between protecting your business and growing: discover in this video how Isigny Sainte-Mère keeps its world open despite commercial uncertainties
Infant milk powder for Asia: “We were able to say yes: amidst uncertainty BUT with complete confidence!”
In a global context marked by economic instability, regulatory complexity and increasing commercial risks, this openness to the world and to international trade cannot be improvised. For Isigny Sainte-Mère, this relies on rigorous credit risk management and a perfect knowledge of its trading partners. For over 30 years, the Normandy-based cooperative has managed its commercial risks with Coface to make the right decisions at the right time… and on rather complex cases!
Isigny Sainte-Mère’s diversification into the production of infant milk powder perfectly illustrates this approach. This segment, which has become strategic for Isigny Sainte-Mère, depends to a large extent on the Asian market. A dynamic market with strong potential but one that is highly regulated, with stringent health and compliance standards, requiring heavy industrial investment.
Accessing this market required a long-term vision and the ability to precisely assess exposure to country and sector-specific risks before committing. A pivotal decision, which would not have been achievable without a robust decision-making structure and detailed analysis of business partners. Isigny Sainte-Mère was thus able to make confident decisions and pursue growth in this key market.
Without a comprehensive risk assessment, we would never have embarked on such a project, nor invested so heavily in our production capacity. When exporting to distant markets, having the support of a reliable partner with risk expertise makes all the difference… So we were able to say yes. Amidst uncertainty BUT with complete confidence!”
Benoît Aubry, Chief Financial Officer of Isigny Sainte-Mère.
The result: infant milk powder produced locally in Isigny-sur-Mer now feeds nearly 2.5 million babies in around 100 countries, and accounts for over 60% of the cooperative’s turnover!
Daring to grow: how to make risk a development opportunity
This logic applies to the cooperative’s entire global expansion. When entering the US market, and upon request from a major US retail player, Isigny Sainte-Mère reviewed its cheese range to meet the expectations of this leading retailer. More than just a product adaptation, this was a real industrial gamble for the Normandy-based cooperative.
A bold and stressful challenge, but once again: we were able to analyse, compare the information, assess the risk… and seize this opportunity
Benoît Aubry, Chief Financial Officer of Isigny Sainte-Mère.
Today, Isigny Sainte-Mère continues to grow abroad: the Normandy-based cooperative exports to every continent and generates over €300 million in turnover there. For over 30 years, commercial risk has been an integral part of Isigny Sainte-Mère’s development strategy, enabling it to convert uncertainty into a driver of growth, whilst safeguarding its cooperative model, the diversification of its activities and its stakeholders. It is this structured approach that today enables Isigny Sainte-Mère to stay open to global trade, growth and innovation.
We don’t simply endure risk; we integrate it into our decision-making: that’s how we dare to grow and stay in full control of our journey, despite unpredictability.
Because we have the right partners to turn risk into opportunity. Managing risk isn’t about closing all your doors: it’s about protecting yourself so you can keep opening new ones. That’s it, Keeping your world open!
Benoît Aubry, Chief Financial Officer of Isigny Sainte-Mère.
You too, Keep your world open:
- Like Isigny Sainte-Mère, explore all Coface’s solutions to turn risk into a real growth driver
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