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Hungarian food processor Globus has finalised a contract to acquire a majority stake in Nagykoros Cannery, which is owned by French canning company Bonduelle.

An extraordinary general meeting on 18 October had authorised Globus’ management to acquire a 75% stake in the canning plant, which is situated in southeastern Hungary. The meeting also authorised the acquisition of four Polish frozen food producers and the sale of the Bekescsaba cannery to Bonduelle. Globus has said that the revenue from the Bekescsaba sale will cover a large part of the acquisition costs, reported Interfax.