Campofrío/Groupe Smithfield merger approved
The shareholders’ meeting of Campofrío Alimentación S.A. (“Campofrío”) and the shareholders meeting of Groupe Smithfield Holdings S. L. (“Groupe Smithfield”) have approved a merger of equals today.
In order to carry out the integration, by means of absorption of Groupe Smithfield by Campofrío, the shareholders of Campofrío have approved the capital increase by issuing 49.577.099 shares to be delivered to the shareholders of Groupe Smithfield.
Once the process is finalised, the shareholders of the company, which will be called Campofrío Food Group, will include Smithfield Foods (37%), Oaktree Capital (24%), Pedro and Fernando Ballvé (12%), Díaz Family (5%), Caja Burgos (4%) and QMC (2%).
This merger of equals, between Campofrío and Groupe Smithfield, results in the creation of a leading European company in the processed meat industry and one of the five largest worldwide with a turnover of €2.1 billion and earnings before tax and depreciation (EBITDA) of €190 million, according to pro-format combined figures for the 12 months period ended December 2007.
The new company will be positioned as the market leader in Spain, France, Portugal and The Netherlands; also maintaining an important presence in Romania, Germany, United Kingdom, Italy and Belgium.
Related Website
• Groupe Smithfield
• Campofrío
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Once the process is finalised, the shareholders of the company, which will be called Campofrío Food Group, will include Smithfield Foods (37%), Oaktree Capital (24%), Pedro and Fernando Ballvé (12%), Díaz Family (5%), Caja Burgos (4%) and QMC (2%).
This merger of equals, between Campofrío and Groupe Smithfield, results in the creation of a leading European company in the processed meat industry and one of the five largest worldwide with a turnover of €2.1 billion and earnings before tax and depreciation (EBITDA) of €190 million, according to pro-format combined figures for the 12 months period ended December 2007.
The new company will be positioned as the market leader in Spain, France, Portugal and The Netherlands; also maintaining an important presence in Romania, Germany, United Kingdom, Italy and Belgium.
Related Website
• Groupe Smithfield
• Campofrío
Click here for the free Pig Progress newsletter
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