Polish pork giant Gobarto has submitted plans to the country’s competition authority to acquire local pork and poultry manufacturer Albo.
The Office of Competition and Consumer Protection (UOKIK) has confirmed Gobarto lodged the proposal last week (15 February).
Financial details have not been disclosed.
The Warsaw-headquartered group has applied to take over 100% of Albo.
Gobarto first announced the proposed acquisition on the Warsaw Stock Exchange (WIG) in January.
In a stock-exchange filing, Gobarto said it intended to pay 17m zlotys ($4.2m) for the company, with the possibility of a downward adjustment, depending on Albo’s results.
After the transaction, Gobarto will “expand the activities of its capital group to include a wholesaler of cold meats, poultry and processed products located in central Poland”, local business media outlet Inwestycje reported.
Radom-based meat manufacturer Albo distributes its products in the Masovian, Świętokrzyskie, Łódź and Podkarpackie regions.
Albo, founded in 1991 carries out pork and poultry cutting. It is owned by Multifood Group and markets products under the Swojcy and Tradyeja brands.
Gobarto is a subsidiary of Cedrob Spółka Akcyjna and belongs to the Cedrob capital group since 2014. Cedrob holds 91.06% of Gobarto shares.
The meat producer encompasses “more than 30 businesses from the farming and food industries”. It employs approximately 1,500 people.
Gobarto sells its products domestically and in “many countries” in Europe, Asia, South America, North America, and Africa.
The group’s website states: “In addition to its core business that focuses on pork, poultry, and game production and distribution, the company is also active in grain crops and plant production.”
