The merger of fresh food producer Ter Beke and processed meats manufacturer Pluma will result in the creation of Belgium’s biggest processed meats group, the third largest in the Benelux.
The new group will be represented across a broad spectrum of cooked meat products: Ter Beke manufactures salami, processed poultry meats and pâtés, while Pluma is the current market leader in cooked ham, pâtés and cooked meats, and is active in salted processed meats.
The combined processed meat activities of Ter Beke and Pluma account for 17% of the Belgian market, according to March’s figures published by market research bureau GfK. In the UK, the group will become the market leader in pâtés.
After the merger, it is expected that Ter Beke-Pluma processed meats will achieve an annual turnover of approximately EUR230m (US$279.8m). Its own brands will include L’Ardennaise, Daniel Coopman, Pluma and La Rochette.
Ter Beke will acquire 100% of Pluma in exchange for a 20% stake in the new company, 342,254 newly issued shares, and EUR5.5m.
Ter Beke said in a statement released yesterday (16 March) that it expects the transaction to be completed by the end of May.