“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.