Nutreco now further expands in Spain
After recent takeovers in the US and Japan in the
aquafeed sector, Nutreco has signed a letter of intent to buy the feed and meat
assets of Copaga in Catalonia, Spain.
The assets of Copaga to be acquired comprise a feed factory, a pig
integration business and a poultry processing facility.
The feed factory has a capacity of approx 300,000 tonnes and will strengthen
Nutreco's market position in the region.
The pig integration business of Copaga has
11,000 sows producing approximately 200,000 pigs per year. Nutreco will have
cost-plus contracts with customers in place to mitigate sensitivity to market
The acquisition of these assets of Copaga enables Nutreco in Spain to further
optimise feed and meat capacity and reduce production costs. It will add
about €50m in revenues and will be EPS enhancing.
The transaction is subject to due diligence and approval of the members of
the Copaga cooperative and of Spanish regulatory authorities. It is expected to
close in the first quarter of 2008.
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