Grupo Fuertes pursues Uvesa acquisition amid competition from MHP

SPAIN – Spanish agri-food company Grupo Fuertes has confirmed its bid to acquire local poultry business Uvesa, competing against Ukrainian poultry giant MHP.

Grupo Fuertes, known for its operations in poultry, seafood, and cheese production, has communicated its offer to Uvesa’s shareholders, according to a spokesperson.

MHP, which also specializes in poultry, submitted a binding offer for Uvesa in December, requiring a minimum acceptance of 50.1% of shareholders to proceed with the deal.

Uvesa, established in 1964 and based in Tudela, Navarra, operates as a farm-to-fork company, producing fresh and frozen chicken, marinated poultry products, sausages, meatballs, charcuterie, and fresh pork.

The business runs four poultry processing plants in Tudela, Málaga, Cuéllar, and Rafelbunyol and serves both retail and foodservice channels in Spain, alongside exports.

Local publication El Economista has reported that Grupo Fuertes’ offer for Uvesa is valued at approximately US$312.3m, targeting the approval of the company’s 1,500 shareholders.

Grupo Fuertes operates through various subsidiaries, including its poultry division Procavi and El Pozo, which focuses on meat and cured meat production.

The company also has divisions such as Fripozo for frozen fish, seafood, and vegetables, Palancares for goat cheese production, Aquadeus for bottled mineral water, and Bodegas Luzón for wine production.

Uvesa also rears pigs for the food industry, contributing to its extensive product portfolio.

Grupo Fuertes, headquartered in Alhama de Murcia in the Murcia region, also has investments in sectors like real estate and petrochemicals.

The group reportedly generated a revenue of US$2.7bn in 2023, according to El Economista.

Neither Fuertes nor MHP has disclosed further details about the potential acquisition timeline or shareholder discussions.

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.