International shareholders
Sigma Alimentos is prepared
to pay 695 million euro for Campofrio from Madrid, employer of more than 11,000 people and the largest meat processing company in Europe. The Mexican food group has a 2.75 billion euro turnover and already has 44.7 %
of Campofrio’s stock, now targeting the 37 % currently owned by China’s largest pig
breeder, Shuanghui International Holdings.
Business banks believe it
is very likely the Chinese will accept the offer, as Campofrio’s hotdogs and canned meat are
not that popular in China. On top of
that, Shuanghui is thought to be focusing completely on Smithfield’s
integration.
The international manoeuvres also influence Belgium, as Campofrio owns
Imperial Meat Products, which manages a 200 million euro turnover, employing 800 people.
The company has five factories: Imperial Lovendegem, Amando Destelbergen, Cornby
Gent, Dacor Zwijnaarde and Champlon Salaisons in the Ardennes.
Campofrio would benefit
from its purchase by Sigma Alimentos, as it would mean the Mexican and American markets would open up. It is unclear
whether this would benefit Imperial Meat as well.
(Translated by Gary Peeters)
