MHP, a leading Ukrainian poultry giant, made an initial bid for Uvesa in December, ranging between 200 and 275 million euros. In February, Grupo Fuertes submitted a counteroffer of 321 million euros. MHP then raised their bid, resulting in Uvesa's recent acceptance on March 4.
The acquisition of Uvesa by MHP has sparked concerned reactions within the European poultry sector. Critics argue that Ukraine’s (temporary) duty-free access to the European Union creates an uneven playing field. MHP already controls 90 percent of Ukrainian poultry exports to the EU, which opponents say facilitates MHP’s European expansion.
In the first week of June, the EU must decide on new extensions of favorable trade conditions for Ukraine. Brussels instituted these to support the Ukrainian economy in the fight against Russia’s war on the country. Extending imports without duties and quotas could lead to revisions of trade terms and policy adjustments.
Promotion
Despite these concerns, the Spanish government dismissed criticism of MHP’s bid. According to Madrid, the takeover does not pose a threat to Spanish interests. The final decision rests with Uvesa’s shareholders, as multiple parties have shown interest.
Grupo Fuertes, based in Murcia in the southeast, after missing out on Uvesa, has acquired the pig company Agropor. This strategic move strengthens their position in the Spanish pork sector. The acquisition was carried out by their subsidiary Cefusa, which specializes in livestock farming.
These recent developments illustrate, according to market analysts, the current dynamics within the Spanish meat industry. Both domestic and foreign companies are competing to strengthen their market positions. This could lead to further restructurings and shifts within the sector in the coming months.