Lusiaves acquires Spanish rival Oblanca

Poultry rearing group Lusiaves has purchased a majority stake in the Spanish group Oblanca based in León that employs 650 people that last year posted a €123 million turnover.

In an operation described as “a strategic step” for the Leiria poultry group, which has a turnover of more than €700 million and 4,500 direct employees, the integration of the Spanish competitor will reinforce its presence in the Iberian market and “expand its capacity to respond to the needs of customers and partners”.

“The integration of Oblanca into Lusiaves represents much more than a majority stake: it is the union of two family businesses that share values, entrepreneurial spirit and dedication to quality,” underlines the president of the Portuguese group, Avelino Gaspar, who founded this business in 1986.

In a statement that does not clarify the value of the deal made on October 1, as well as the capital share it now has, it underlines that despite the entry of a new majority shareholder, the agreement safeguards employment contracts and the current management team at Oblanca.

The Lusiaves group includes more than 40 companies in areas ranging from poultry production to animal health, logistics, renewable energy and food processing.

Source: ECO