Uvesa, the meat group controlled by Ukraine’s MHP, has struck a deal to buy Spanish peer Payán Hermanos.
Financial terms were not disclosed.
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“The agreement represents an important step in Uvesa’s development and reflects the company’s strategy to sustainably strengthen and expand its poultry business in Spain,” a statement read.
Payán Hermanos, set up in 1953, is based in Maracena in southern Spain and markets a range of poultry products to local customers.
“Payán is a company with extensive experience and recognised expertise in the poultry sector. Its integration into Uvesa will strengthen our operations and create new opportunities for sustainable development,” Uvesa president Antonio Sánchez said.
London-listed MHP, the largest poultry group in Ukraine, took its shareholding in Uvesa to 92% in August last year after an earlier deal to buy 41%.
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By GlobalDataAt the time, Sánchez said MHP’s controlling stake “marks a new and significant chapter for Uvesa, which will be able to boost its growth thanks to MHP’s extensive experience in operational innovation”.
Of the move to buy Payán Hermanos, Sánchez added: “The acquisition represents a natural next step for Uvesa following its integration into the MHP group, as MHP continues to focus on strengthening the companies within the group and supporting their long-term development.”
