Smithfield Foods completes acquisition of Polish group of meat companies | Progresiv

Smithfield Foods, Inc. announced the completion of its acquisition of Pini Group’s packaged meats companies in Poland. These companies will be operated by Animex Foods, one of the largest food producers in Poland and part of Smithfield Poland, which is owned by Smithfield Foods. The acquisition includes Pini Polska, a meat processing and packaging plant; Hamburger Pini, a case ready meat plant; and Royal Chicken, an investment project currently in development.

“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 capitalizes on existing opportunities for us to expand in areas with very attractive market dynamics and to develop scale over time,” said Kenneth M. Sullivan, president and chief executive officer of Smithfield Foods. “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.”

Smithfield Poland will now employ nearly 9,240 people, including approximately 240 former Pini employees, which will solidify the company’s position as the largest employer in the Polish food industry.

The closing followed approval from the Office of Competition and Consumer Protection (UOKiK) in Poland and completion of due diligence. As per the agreement, transaction details such as purchase price and terms will not be disclosed. (www.globenewswire.com)