MHP has agreed to acquire a majority stake in Greek poultry producer Nitsiakos in a deal that could eventually lead to full ownership.
In a stock exchange filing, the Ukrainian food group said it will buy 70% of Nitsiakos in three stages.
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MHP expects to acquire the first tranche is expected in the first quarter of next year, the second before December 2027 and the third prior to December 2028.
The UK-listed group has also granted the sellers a put option over the remaining 30% stake of Nitsiakos. That option can be exercised between 2030 and 2035.
Nitsiakos, founded in the 1970s and headquartered in Ioannina, is active in poultry, animal feed and pet food.
On its website, the group describes itself as Greece’s “largest” chicken meat producer.
Its facilities include two poultry slaughterhouses with capacity of 41 million chickens a year, a red meat processing unit and a slaughterhouse for turkeys and rabbits.
In 2025, Nitsiakos generated consolidated revenue of about €540m ($629m).
MHP said the amount payable at each stage will be disclosed separately at the time.
The London-listed group entered south-eastern Europe in 2019 through the acquisition of Perutnina Ptuj. It bought Spain’s Uvesa Group last year.
In March, Uvesa announced a deal to acquire Spanish poultry company Payán Hermanos.
Founded in 1953, Payán Hermanos is based in Maracena in southern Spain and sells poultry products in its domestic market.
MHP, founded by chief executive Yuriy Kosyuk, reported revenue of $3.76bn in 2025, up 23.6% year-on-year. Operating profit fell 8.9% to $376m, while profit for the year rose 29.8% to $187m.
