The boards of Agrial and Terrena have proposed a merger of the two French agri-food cooperatives. They are "studying" a deal that would, if passed by members, create a company with combined, pro-forma sales of more than €12bn ($14.15bn). Agrial's drinks assets centre on its cider business in France, where it markets brands including Écusson and Loïc Raison. Its drinks portfolio also includes Seattle Cider Co. in the US, French beer business Brasserie Lancelot and cola brand Breizh. "In a context mark ...