Plukon Meals Group has reached an settlement in precept to purchase the HKScan Denmark subsidiary of HKScan Company.
HKScan Denmark, based in 1952, is a poultry slaughter and processing firm that produces shopper packed poultry and prime quality ready-to-eat and ready-to-heat poultry merchandise. The corporate operates a slaughter and slicing facility in Vinderup and a processing plant for cooking, frying and packaging in Skovsgaard. The top workplace for the operations is situated in Aarhus. HKScan Denmark employs round 680 staff and its revenues amounted to roughly EUR230 million (US$247.64 million) for the yr 2023.
The proposed buy value is EUR44.6 million. The transaction is anticipated to shut throughout 2024 and might be topic to approval by the Danish competitors authorities.
Kees Kraijenoord, CEO of the Netherlands-based Plukon Meals Group, mentioned: “With the acquisition of HKScan Denmark, we proudly welcome Denmark as our seventh dwelling nation. This strategic transfer not solely aligns completely with our development ambitions, but additionally offers us with the chance to increase our market presence for poultry, meals and alternate options all through the Nordics. It’s a welcome addition to the Plukon Meals Group and I look ahead to the collaboration with the workforce.”
Each Plukon and HKScan Denmark specialise in offering a variety of contemporary, frozen and processed poultry merchandise for the retail, foodservice and business markets in Denmark and throughout Europe. HKScan Denmark primarily provides contemporary poultry merchandise underneath its personal Rose poultry shopper model to the retail in Denmark, as effectively as non-public label merchandise and frozen merchandise to markets in and outdoors Denmark, most notably to Sweden.
Plukon continues pattern of acquisitions
On the conclusion of 2023, Plukon ranked because the fourth largest poultry producer in Europe and the nineteenth largest on the planet, having slaughtered 462.8 million broilers through the yr.
Nonetheless, Plukon Meals Group may rise in these rankings, as this is the fourth acquisition to be introduced by Plukon Meals Group in 2024 alone. Earlier this yr, Plukon introduced its intent to amass Sambau and Redondo, each primarily based in Spain, and Algas SP, primarily based in Poland. Every of these firms are concerned within the poultry sector.
In 2023, Plukon acquired a 51% stake in ter Maten. In 2020, Plukon’s acquisitions included VMR, Cuparius Meals Group and a 51% stake in Optibrut.
One other divestiture for HKScan
Whereas Plukon Meals Group is rising its geographical footprint, HKScan is lowering its, inserting extra give attention to its dwelling nation of Finland.
HKScan had earlier introduced its intent to divest of HKScan Denmark, saying it had been reviewing “the positioning of its market areas as a part of the group’s long-term technique with a goal to develop into a flexible meals firm.”
The announcement of the pending sale of HKScan Denmark adopted a January announcement that HKScan was promoting its operations in Sweden to Lantmännen. In 2023, HKScan offered its Baltic companies in Estonia, Latvia and Lithuania to the Maag Grupp of Estonia.
“The sale of the Danish enterprise will proceed to strengthen firm’s stability sheet and permit us to raised give attention to our remaining companies. Following the choice to promote the Danish enterprise, the evaluation of the group construction has been accomplished for now. We’re strongly Finnish at our core however stay an internationally working listed firm. We’ll now give attention to bettering the competitiveness and profitability of our core operations and proceed to implement our long-term technique to grow to be a but extra versatile meals firm,” mentioned HKScan’s CEO Juha Ruohola.
A number of weeks in the past, HKScan introduced it’s altering its identify to HKFoods. The identify change is to be launched after this month, as soon as the brand new identify is registered with the Commerce Register.
