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.
Grupo Lusiaves operates across various areas including poultry production, animal nutrition and renewable energy.
The company, which has more than 40 sites in Portugal, generates an annual turnover of more than €400m ($468m). Its subsidiaries include Campo Vivo and Campoaves. The group’s flagship brand is Lusiaves.
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By GlobalDataIn a statement, Grupo Lusiaves president Avelino Gaspar said: “Oblanca’s integration into the Lusiaves Group represents much more than a majority stake: it is the union of two family businesses that share values, an entrepreneurial spirit and a dedication to quality. We are confident that together we will strengthen our position in the Iberian food sector, create new opportunities, and add value to all our customers and partners.”
Oblanca itself has grown its operations through a series of acquisitions, including just last month when it snapped up Spanish business Distribución Frigorífica Segoviana.
Focused on the production of fresh chicken, processed poultry and eggs, Distribución Frigorífica Segoviana mainly operates in the Autonomous Community of Madrid.
