France’s largest poultry processor, LDC, will acquire Hungarian group Tranzit, LDC announced today. The acquisition will provide the company a production base in Hungary for geese and ducks while opening up a significant export business opportunity to Germany, the French group said.
Within the deal, LDC will acquire a 70% stake for an undisclosed sum, while Tranzit’s family owners will retain 30%. The acquisition will require regulatory clearance, Reuters reported.
Last year family-owned Tranzit, which specializes in goose and duck, had sales revenues of EUR 108 million and EBITDA of EUR 20 mln, LDC said. Some 60% of sales came from exports, according to state news wire MTI, adding that Tranzit processed 36,000 tonnes of geese and ducks last year, and was the biggest supplier of goose in Europe, accounting for 20% of output in the European Union.
In recent years LDC has developed operations in Poland and further expanded on the French market.
Reporting results for its financial year that ended on February 28, LDC said full-year current operating profit rose to EUR 184.7 mln, up from EUR 176.6 mln a year earlier. Net profit rose to EUR 140.7 mln, up from EUR 130.3 mln.