Sigma, Shuanghui offering to acquire Campofrio

by Keith Nunes
Share This:
Search for similar articles by keyword: [Smithfield Foods], [Meat]

MONTERREY, MEXICO — Mexican Food processor Sigma Alimentos and Hong Kong-based Shuanghui International Holdings are joining together to acquire Spain’s Campofrio Food Group, Madrid. The joint offer is for €6.90 ($9.45) per share of Campofrio Food Group stock, for a total investment of approximately €700 million ($958 million).

The two companies currently own approximately 82% of Campofrio’s outstanding shares. Through its acquisition of Smithfield Foods, Inc. on Sept. 26, 2013, Shuanghui International indirectly acquired approximately 37% of the outstanding shares of Campofrio. Following its acquisition of Smithfield Foods it was not clear how Shuanghui management would address the company’s ownership stake in Campofrio.

In a series of purchases from Nov. 13, 2013, to Nov. 27, 2013, Sigma acquired approximately 45% of the outstanding share capital of Campofrio.

With annual sales of €1.9 billion, Campofrio is one of the largest meat processors in Europe. The company has eight interdependent operating companies in France, Spain, Germany, Italy, Belgium, Portugal, The Netherlands, the United States and a joint venture with Caroli Foods in Romania.
Add a Comment
We welcome your thoughtful comments. Please comply with our Community rules.








The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.