Czech food processor Agrofert has received approval from the country’s Office for Protection of Economic Competition to purchase major competitor Agropol.
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When the deal is completed, the combined entity will be one of the biggest food industry players in Central and Eastern Europe with sales of more than CZK100bn (US$5bn).
The financial details of the transaction have not been disclosed but Agrofert’s owner Andrej Babis told just-food that the sum could be put at “billions of [Czech] crowns”.
Agrofert has a stake in some 170 companies in the Czech and Slovak Republics as well as interests other European countries, including Germany. As a result of the acquisition, Agrofert could control as much as 40% of the domestic poultry market.
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By GlobalData
