Portuguese poultry group Grupo Lusiaves has struck a deal to acquire a majority stake in Spanish peer Oblanca.
The financial terms of the transaction were not disclosed.
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In a statement, Oblanca said the deal, which came into force on 1 October, represents a “long-term opportunity” for both parties.
According to the León-headquartered company, the “resulting group will become one of the leading operators” within the poultry industry on the Iberian Peninsula.
Oblanca itself has grown its operations through a series of acquisitions. Last month, Oblanca announced the acquisition of Distribución Frigorífica Segoviana, focused on the production of fresh chicken portions, processed poultry goods, and egg distribution.
Distribución Frigorífica Segoviana mainly operates in the Autonomous Community of Madrid via regional supply networks, while also supporting wholesalers across Spain.
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By GlobalData