November 6, 2007

Nutreco strengthens feed and meat operations
 

Nutreco NV signed a letter-of-intent to buy the feed and meat assets of Copaga in Spain, which comprises of a feed factory, poultry processing facility and a pig integration business.

With approximately 300,00 tonnes of capacity, the feed factory will strengthen Nutreco's presence in the Spanish region. The poultry processing facility has a 25-million production capacity of chicken per year.  The pig integration facility has been producing 200,000 pigs a year.

This acquisition allows Nutreco to further optimise feed and meat production and lower costs, the company said. It will add around EUR 50 million in revenues and will be earnings-per-share enhancing.

The deal is expected to close at the start of 2008. Nutreco spokesman Frank van Ooijen said he could not give full details of the deal as it is still on due diligence.

Nutreco acquired parts of the animal feed premix business of the German company BASK Aktiengesellschaft this year.