Nutreco now further expands in Spain
After recent takeovers in the US and Japan in the aquafeed sector Nutreco has signed a letter of intent to buy the feed and meat assets of Copaga in Catalonia, Spain.
The assets of Copaga to be acquired comprise a feed factory, a poultry processing facility and a pig integration business.
The feed factory has a capacity of approx 300,000 tonnes and will strengthen Nutreco’s market position in the region.
25 million chickens
The poultry processing facility has a total production of approx 25 mln chickens per year. This facility has been operated by Nutreco since July 2000 under a lease contract.
The acquisition of these assets of Copaga enables Nutreco in Spain to further optimise feed and meat capacity and reduce production costs. It will add about €50 mln in revenues and will be EPS enhancing.
The transaction is subject to due diligence and approval of the members of the Copaga cooperative and of Spanish regulatory authorities. It is expected to close in the first quarter of 2008.