October 6, 2010

Swiss' Migros buys local poultry firm

Swiss retail giant Migros has bolstered its poultry production through the acquisition of local firm Favorit Gefluegel.

The deal, announced on Monday (Oct 4), was made through Migros' meat processing arm Micarna, was made for an undisclosed sum.

For the last decade, Migros' Micarna unit has slaughtered animals supplied by Favorit Gefluegel.

The transaction is the second food-processing deal struck by Migros in the last 24 hours. The retailer's milk processing subsidiary Elsa also bought a minority stake in local dairy firm Schwyzer Milchhuus.