HUNGARY: Nutricia continues expansion with Hungarian acquisitions

A dairy processing interest of Dutch infant formula and food group Nutricia International BV, Hajdutei Rt has now acquired Matratej Kft and Gyongytei Kft. Both processors are situated in the north of Hungary and produce HUF5bn in consolidated revenues. Based in eastern Hungary, Hajdutei increased its share of the domestic milk market to around 23% last year, processing 228m litres. Its equity had reached above HUF1bn prior to the latest buyouts, and forecasters predict that the market share will increase further to 25% if the Economic Competition Office approves the acquisitions.Nutricia has focused on multinational expansion for several years. CEO Pal Istvan Kiss would not reveal the price paid for the two processors.