Czech food maker Hamé has purchased the canned meat products business of struggling Hungarian food company Globus.
The business accounted for approximately 20% of Globus’ 2008 sales, which reached EUR20m (US$27.8m). The financial details of the transaction were not disclosed.
In Hungary, Hamé already owns Hamé Hungaria, which increased its turnover by 11% last year. Thanks to this latest acquisition, the Czech manufacturer is now expected to double or even triple its share of Hungary’s meat products market.
Hamé became part of Icelandic food group Nordic Partners last year. The company operates production facilities in the Czech Republic, Romania and Russia and exports products to 36 countries, including Cuba, Japan and Libya.