MHP on March 20 signed a share purchase agreement (SPA) with shareholders representing over 41% of the share capital of Uvesa, a company MHP had earlier offered to acquire.
Under the terms of the SPA, MHP will acquire shares at a fixed price of EUR225 (US$244) per share, with an additional contingent consideration of up to EUR 21.43 per share, subject to certain post-closing conditions. The agreement also allows other Uvesa shareholders to join the SPA within one month of signing, offering them the opportunity to participate under the same terms.
The Ukraine-based MHP is the world’s eighth largest poultry company and 73rd largest feed company, producing 704 million broilers and 2.2 million metric tons of feed annually. Uvesa, headquartered in Spain, is Europe’s 17th largest poultry company, producing 95 million broilers annually, according to data from the WATTPoultry.com Top Poultry Companies Database.
According to a press release issued by both companies, this agreement marks a significant milestone in MHP's strategic expansion into the Spanish market, reinforcing its long-term vision to strengthen its presence in the European poultry sector.
"For MHP, expanding in Europe is about building strong partnerships, driving innovation, and creating a lasting impact. Uvesa, with its solid reputation and deep roots in Spain, is a natural fit for MHP's vision of sustainable growth and contribution to the country's economic development,” said Dr. John Rich, executive chairman of the MHP board of directors.
“MHP brings its expertise, operational excellence, and advanced technology to support Uvesa's growth, enabling it to scale and expand into new markets across Europe and the Middle East. At the core of this partnership are people. The 3,000+ employees who define Uvesa today will continue to be at the heart of the company. We remain committed to job stability and generating economic value for the region."
Antonio Sánchez, president of Uvesa, expressed his vision for the future, saying: "Partnership with MHP signifies a new and significant chapter for Uvesa. This partnership aims to strengthen our foundations, unlock new opportunities, and expand our reach. With MHP's extensive expertise in innovation and superior operations, we are prepared to grow sustainably while remaining true to our local roots. Most importantly, we will continue to provide high-quality products to the communities and regions we proudly serve."
Completion of the transaction remains subject to regulatory approvals, including merger control clearances, as well as foreign subsidies clearance by the European Commission. The purchase price will be paid in cash upon closing.
In addition to having operations in Ukraine, MHP has operations in southeast Europe, through its Slovenia-based subsidiary, Perutnina Ptuj. Other MHP operations include a cutting facility in the Netherlands, a joint venture in Saudi Arabia, and sales and distribution offices in Saudi Arabia, the United Arab Emirates (UAE) and the United Kingdom (U.K.)
History of transaction talks
MHP issued a press release in December 2024, announcing that it submitted a binding offer to acquire Uvesa, with that offer requiring the acceptance of the majority of Uvesa shareholders. However, that press release is no longer accessible on the MHP website.
Following that offer, Spanish agrifood company Grupo Fuertes made its own offer to acquire Uvesa.
MHP, on March 7, issued another press release stating that it had obtained formal approval from the Spanish government for its “strategic investment in Uvesa and its affiliated companies.”
The press release also stated, “The approval authorizes MHP’s acquisition of Uvesa, a leading Spanish agri-food group with a strong presence in the poultry industry.”
The most recent press release, issued by both companies, stated: “As previously disclosed, MHP secured formal approval from the Government of Spain on March 4, 2025, for its strategic investment in Uvesa and its affiliated companies, further cementing its position as a reliable and responsible investor in the European agri-food sector.”
