Smithfield Foods, Pini Group finalize deal
June 1, 2017
by MEAT+POULTRY Staff
Smithfield has completed its acquisition of Pini Group's packaged meats companies.
SMITHFIELD, Va. – Smithfield Foods and Pini Group have announced the completion of Smithfield’s acquisition of the packaged meats company in Poland. Animex Foods, part of Smithfield Poland and one of the largest food producers in the country, will operate the Pini Group companies. Included in the deal are 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 Sullivan, president and CEO of Smithfield Foods in a statement. “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.”
The acquisition solidifies Smithfield Poland’s position as the largest employer in the Polish food industry with nearly 9,240 people, 240 of which are former Pini employees.
The closing followed approval from the Office of Competition and Consumer Protection (UOKiK) in Poland and completion of due diligence. Terms of the deal were not disclosed.