Smithfield Foods completes purchase of Pini Group’s packaged meats companies
Smithfield Foods has completed the acquisition of Pini Group's packaged meats companies in Poland.
The deal was closed after receiving approvals from the Office of Competition and Consumer Protection (UOKiK) in Poland, as well as completion of due diligence.
Financial details of the transaction have not been divulged.
The acquired companies will be managed by Animex Foods, which is a part of Smithfield Poland.
The purchase includes the Pini Polska meat processing and packaging plant, the Hamburger Pini case-ready meat facility, and a Royal Chicken investment project that is currently in the development stage.
Smithfield Foods president and chief executive officer Kenneth Sullivan said: "This acquisition aligns with Smithfield's strategic growth plans by strengthening our vertically integrated supply chain in Poland and increasing our production of high-quality packaged meats products.
“It also capitalises on existing opportunities for us to expand in areas with very attractive market dynamics and to develop scale over time.
"This is a win-win for Smithfield, as well as Poland's agricultural industry. This move will help the Polish meat industry become more competitive across European and international markets."
Following this acquisition, Smithfield Poland has approximately 9,240 employees, of which nearly 240 are from Pini.