Czech food processor Agrofert has received approval from the country’s Office for Protection of Economic Competition to purchase major competitor Agropol.
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.