Spain

Spanish poultry sector show signs of consolidation

Mergers & Acquisitions

Grupo Uvesa bids 7.8 million euros for the production unit of the Cooperativa Avícola de Burgos.

Posted on Dec 29 ,11:13

Spanish poultry sector show signs of consolidation

Grupo Uvesa has offered nearly 7.8 million euros for the production unit of the Cooperativa Avícola de Burgos located in Monte de la Abadesa (Burgos). According to local media reports, this plant, which has been in bankruptcy since April, consists of areas such as the slaughterhouse and poultry cutting room, the chick incubator, the feed factory, the office building and several lands for logistical use.
The governing council of the Cooperativa Avícola de Burgos, which had two offers on the table, has chosen to accept Uvesa's proposal, which, as reported by the Burgos newspaper, in addition to offering a greater economic amount for the facilities, undertakes to maintain the 23 workers at the plant and has a future plan for the facilities, which includes, in the short term, the start-up of the incubation room and the possible reopening of the slaughterhouse and cutting room.
The sale decision already has the approval of the bankruptcy administrator, and, to complete the transaction, only the ratification of the Commercial Court is missing.

(Photo source: ULMA Packaging)

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