February 9, 2023

Dutch poultry company Plukon acquires majority stake in competitor Ter Maten

Dutch poultry company Plukon has acquired a majority stake in its competitor JA Ter Maten, purchasing 51% of the competitor's shares for an undisclosed sum, Just Food reported.

Peter Poortinga, chief executive officer of Plukon, said both companies aim to supply high-quality poultry products, with delivery reliability as the foundation, adding that they are excited to work with JA Ter Maten to realise their combined growth goals over the coming years.

Wouter and Willem ter Maten, members of Ter Maten's management team, said they are confident that together with Plukon, they can fully implement their expansion plans as they have determined part of their raw material supply.

They said that the agreement will have no effect on existing suppliers.

Plukon acquired a number of companies in 2020, including Dutch poultry rival Cuparius Food Group.

Plukon has 30 facilities in Europe, nine of which are in the Netherlands and the rest in Germany, Belgium, Poland, France, and Spain. The company employs 9,000 people and has a revenue of more than EUR 2 billion (~US$2.13 billion; EUR 1 = US$1.07).

Ter Maten has two manufacturing plants in Bunschoten, the Netherlands, and one in Brecht, Belgium. The company employs approximately 150 people and expects to turn over EUR 100 million (~US$107 million) in 2022.

-      Just Food