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Uvesa, the meat group controlled by Ukraine's MHP, has struck a deal to buy Spanish peer Payán Hermanos.

Financial terms were not disclosed.

"The agreement represents an important step in Uvesa's development and reflects the company's strategy to sustainably strengthen and expand its poultry business in Spain," a statement read.

Payán Hermanos, set up in 1953, is based in Maracena in southern Spain and markets a range of poultry products to local customers.

"Payán is a company with extensive experience and recognised expertise in the poultry sector. Its integration into Uvesa will strengthen our operations and create new opportunities for sustainable development," Uvesa president Antonio Sánchez said.

London-listed MHP, the large

MHP meat group to acquire Spain's Payan Hermanos

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MHP produced 926.3 thousand tonnes of poultry meat last year