MHP completed a deal to acquire Slovenian Perutnina Ptuj

MHP completed a deal to acquire the Slovenian company Perutnina Ptuj. Today MHP became the biggest shareholder controlling more than 90% of Perutnina Ptuj.

On the 4th day after merger clearance, there was a change in the Supervisory Board and Management Board. All changes and CV's of new Boards members are published in the press release at the website of Perutnina Ptuj.

This is the first acquisition of its kind in Europe for MHP, and it is currently considering other partnerships around the world.

Final consideration amount is a subject to completion of audited results of Perutnina Ptuj due diligence for the year ended 31 December 2018. The necessary market valuations of net assets fair value and other calculations of result of business combination has not been finalized yet.

After agreeing the deal, the company reaffirmed a commitment to:

• maintain and improve on highest national and international quality standards;
• protect and grow jobs;
• under the existing business model expand the production and development of products and recognizable brands.

MHP CEO Yuriy Kosyuk said: "We are pleased to conclude this deal and put into action our ambitious plans, which will bring direct benefits to employees, farmers, local communities and the wider regional poultry industry. We are certain that Perutnina Ptuj will have a bright future as part of this exciting partnership. By merging the strong management expertise at both companies and investing in new facilities and technology, we are confident we can boost the development of production sites, deepen cooperation with local partners and strengthen sales of Perutnina Ptuj products and brands, building on its popularity in important markets. This partnership confirms MHP as Europe's fastest-growing poultry producer and represents a major strategic step in making the company a significant player in the global poultry business."

Andrey Zubitskiy, President of the Management Board at SIJ Group, noted that in 2018 the Group dedicated much attention to finding a long-term strategic partner of Perutnina Ptuj.

"Since entering this food-processing company in Slovenia in 2015, SIJ Group has ensured stable ownership and finances, good managerial business practices, and, above all, successful business operation. Due to extensive 10-year investments in our primary metallurgy division, SIJ Group did not have sufficient potential for simultaneous investments in Perutnina Ptuj. That is why our goal was to find a partner from the same industry who would make investments to enable the development of Perutnina Ptuj and give it momentum while retaining the existing business model and sustainable operation," he commented.

Enver Šišić, President of Perutnina Ptuj Management, believes that with the acquisition of Perutnina Ptuj by the MHP, the company will be finally able to release all its internal potentials that have been accumulated in the company for many years.

"With the help of the new strategic owner, with the enthusiasm of our employees, with the commitment of our farmers, with the loyalty of our consumers, our company will surely go beyond the regional dimension. We will enter the space that we have long dreamed of!" he said.

On February 5th, MHP announced that the Slovenian Competition Protection Agency had cleared its acquisition of Perutnina Ptuj.