Deal for packaged meat firms

Source: Xinhua | 2017-09-27

THE world’s largest pork supplier WH Group Ltd yesterday said its Smithfield Foods Inc unit would buy two packaged meats manufacturers in Romania, further expanding the Chinese group’s operations in Europe.

US-based Smithfield has agreed to buy a 100 percent stake in Elit SRL and Vericom SRL for an undisclosed sum, WH Group said in a filing to the Hong Kong bourse. The deals are conditional on getting anti-monopoly approval from the relevant regulatory authorities, it added.

Elit and Vericom operate three packaged meats manufacturing facilities and five distribution centers in Romania. They sell about 25,000 tons of packaged meats each year to 12,000 customers through a nationwide distribution network.