Smithfield Expands In Europe
Smithfield Foods Inc. announced two acquisitions that continue to strategically align the company for growth in Europe. The company paid $83 million to acquire meat processors in Poland and Romania.
Smithfield's Animex Group, the largest meat processor in Poland, purchased Morliny S.A., which has sales of over $100 million. The companies produce the two best-recognized brands in Poland -- Krakus and Morliny. The Animex Group now consists of eight meat companies, including four red meat plants and four poultry plants.
"Morliny is a strong company with the leading brand name in the Polish market," said Morten Jensen. "The complimentary brands of Animex and Morliny and the operating efficiencies between these two companies make us the clear leader in the production and marketing of branded processed meats in this important market, while continuing to enhance our export capabilities."
Smithfield also purchased Comtim Group SRL, its second acquisition in Romania. Comtim Group is a vertically integrated meat processing company in Timisoara. The company has hog production facilities with a capacity of 15,000 sows. Currently, the company has about 10,000 sows producing 200,000 market hogs annually.
"These acquisitions strengthen our presence to capitalize on marketing opportunities to develop the protein marketplace in Eastern Europe as these markets emerge," said Robert A. Sharpe II, president of international operations for Smithfield. "Also, by coordinating manufacturing and marketing advantages, we will be well-positioned as Europe continues to evolve toward one marketplace."
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