Ukraine’s largest chicken producer buys 41% of a Spanish company for €400 million
21 March 12:51
One of the largest chicken producers in Ukraine, MHP, has officially announced the acquisition of a 41% stake in the Spanish poultry company UVESA. This deal is a strategic step to expand the presence of Ukrainian agribusiness in the European market. This was reported by MHP, "Komersant Ukrainian" informs
Details of the agreement between MHP and UVESA
According to the signed agreement, MHP will acquire UVESA shares at a price of EUR 225 per share, with an additional contingent consideration of EUR 21.43 per share under certain conditions after the transaction closes. The transaction value will be approximately EUR 400 million.
Under the agreement, MHP will pay in cash at the closing of the transaction. However, the final closing of the transaction is subject to regulatory approvals, including merger control clearances and foreign subsidy clearances from the European Commission. However, the company has already received the necessary approval from the Spanish government.
What does this mean for the market and UVESA employees?
UVESA is one of the leading Spanish poultry companies with more than 3,000 employees. MHP says that all employees will keep their jobs, and the company will develop and expand its capacity through strategic investments and innovative technologies.
The Ukrainian agroholding emphasizes that its goal is not only financial growth, but also building long-term partnerships in Europe, introducing advanced technologies and improving product quality.
Competition for UVESA and MHP’s advantage
Earlier, the Spanish media reported that another bidder, Fuertes Group, had offered the owners of UVESA a deal worth 312 million euros.
However, MHP was able to offer more favorable terms, valuing the company at €400 million, which was the decisive factor in the choice of sellers.
What we know about MHP
MHP is an international food and agricultural company listed on the London Stock Exchange that produces healthy food products. The company operates in agriculture, food production and retail, with production facilities in Ukraine and the Balkans, as well as subsidiaries in the Netherlands, the UK, the UAE, Saudi Arabia and other EU countries.
MHP employs more than 36,000 people in Ukraine and abroad and is one of the top 10 employers in Ukraine according to Forbes Ukraine. The company exports its products to more than 80 countries and manages a land bank of 360,000 hectares in 12 regions of Ukraine.
The company is the largest taxpayer in the agricultural sector and is also one of the country’s top 5 largest investors.
As a culinary company, MHP develops more than 15 product brands, including Qualiko, Sultanah, Assilah, Nasha Ryaba, Appetitna, Legko!, Bashchinsky, Skott Smeat, RyabChick and others.
Together with its partners, the company is developing several retail chains: MeatMarket, Fresh Food, Nasha Ryaba and Döner Market restaurants, which offer delicious and safe fast food.
The founder and CEO of MHP is Ukrainian businessman Yuriy Kosyuk.
What we know about Grupo UVESA
Grupo UVESA is a leader in the Spanish food industry with over 60 years of experience in the poultry and feed sectors.
As one of the leading chicken producers in Spain, UVESA has state-of-the-art facilities equipped with advanced automation and strict process control. This has allowed the company to obtain international quality and food safety certificates.
