Private-equity firm Penta Investments has become a co-owner of the Czech Republic’s biggest meat processor Schneider.

The deal, struck for an undisclosed sum, will also see Schneider take a stake in the investment fund.

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A spokesperson for Penta refused to be drawn on the details of the agreement. He said the information would be made public when the Czech anti-monopoly office approves the dea.

Penta partner Ian Child and Schneider owner Robert Schneider said the agreement was an important step in consolidating the meat processing industry in Central Europe. 

The investment fund already operates five meat plants in the region. It owns the biggest Slovak meat processor Mecom and Hungarian meat firm Debreceni.

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