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WH Group (00288) expands operations in Europe
11 Aug 2017
(Infocast News) WH Group (00288) has expanded its operations in Europe through acquisitions. On 1 June 2017, the company cquired 100% of the share capital of each of: (i) Pini Polska, which operates a meat processing and packaging plant in Kutno, Poland with a production capacity of 100,000 m.t. per year; (ii) Hamburger Pini, which operates a case ready meat plant in Kutno with a production capacity of 40,000 m.t. per year; and (iii) Royal Chicken, which is a poultry processing plant under construction in Kutno with a planned production capacity of 100 million birds per year.

The acquisitions of Pini Polska, Hamburger Pini and Royal Chicken align with the strategic growth plans of WH Group by strengthening the group's vertically-integrated supply chain in Poland and increasing its production of high-quality packaged meats products. The acquisitions also capitalize on existing opportunities for the group to expand in areas with attractive market dynamics and to develop scale over time.

On 28 July 2017, WH Group acquired 33.5% of the share capital of Pini Polonia and entered into a share purchase agreement, pursuant to which WH Group agreed to acquire the remaining 66.5% of the share capital of Pini Polonia, conditional upon, among other things, obtaining anti-monopoly approval from the relevant regulatory authorities.

Pini Polonia operates a hog slaughterhouse in Kutno, Poland with a production capacity of 4 million hogs per year. The acquisition of the remaining 66.5% of the share capital of Pini Polonia has not been completed.

(WL)
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