September 22, 2014

Slovenia's Perutnina Ptuj seeks investors

Slovenian poultry producer Perutnina Ptuj is considering options including a sale that might value the company at up to 140 million euros (US$181.44 million), Reuters reports.
 

The company, which has operations in Slovenia, Croatia, Serbia, Macedonia and Bosnia and Herzegovina, sells poultry meat and products such as chicken sausages. It had a revenue of 261.8 million euros in 2012.

Perutnina Ptuj has hired BNP Paribas as an advisor to help it explore strategic options. The valuation is based on a multiple of six or seven times its operating earnings. The company could attract interest from larger European meat companies which include France's Societe LDC or Sweden's Scandi Standard.

It is not the only Slovenian food processor looking for investors. Slovenia's state investment fund said it was looking for buyers for a majority stake in Zito, one of the country's largest food producers.