WH Group’s Smithfield to acquire two Romanian meat packaging companies
Chinese pork producer WH Group’s US subsidiary Smithfield Foods (Smithfield) has entered a share purchase agreement to acquire two meat packaging companies, Elit and Vericom, in Romania.
Financial details of the deal have not been divulged by the company.
As per the terms of the agreement, Smithfield will acquire 100% share capital of Elit and Vericom.
With this latest acquisition, the WH Group intends to further strengthen its footprint in the European market.
In addition, the acquisitions are expected to strengthen Smithfield’s position in the Romanian packaged meats market.
The transaction will be closed upon obtaining anti-monopoly approval from the relevant regulatory authorities.
The two Romanian companies operate through three packaged meat manufacturing facilities as well as five distribution centres and related assets in the country.
The two companies produce and distribute nearly 25,000t of branded packaged meats to approximately 12,000 customers on an annual basis.
In June, WH Group through Smithfield acquired Pini Polska, Hamburger Pini and Royal Chicken in Poland.
Last month, Smithfield invested $25m in Chef’d, an e-commerce meal marketplace firm, to enhance its e-commerce capabilities.