28 April 2025

2 minute read

By: Global Ag Media

Europe

MHP, a leading international food and agri company, announces the successful conclusion of the adherence period related to its Share Purchase Agreement (SPA) with shareholders of Grupo UVESA, one of Spain's leading poultry producers.

Since the signing of the SPA on 20 March 2025 with shareholders representing 41% of UVESA's share capital, MHP has signed additional adherence deeds with other shareholders allowing MHP to acquire a total of 91.77% of UVESA's share capital.

"This important milestone paves the way for MHP to deepen its strategic alignment with UVESA following the completion of the transaction," said John Rich, executive chairman of the MHP Board of Directors. "MHP sees this strategic investment as a pivotal step in strengthening our footprint in the European poultry sector. Our partnership with UVESA unlocks new potential for sustainable growth, and expanded market access across new markets in Europe and the Middle East. Together, we are building a robust alliance – driven by innovation, rooted in shared values, and committed to long-term job security for our teams."

Completion remains subject to the same conditions previously disclosed, including merger control clearances as well as foreign subsidies clearance by the European Commission.

The SPA terms, including the fixed purchase price of EUR 225 per share and a contingent consideration of up to EUR 21.43 per share, remain unchanged. The transaction will be settled in cash at closing, supported by a first-demand bank guarantee.

"Together with MHP, we are entering a new phase focused on building a strong and sustainable future," said Antonio Sánchez, president of UVESA. "We remain committed to quality, people, and long-term impact. Our people have always been, are, and will remain at the heart of everything we do. As we move forward, we stay true to our shared values and strive to make a positive impact on both our employees and the communities we serve."