UPDATE at 18:50 / EDITORIAL NOTE:
Following the publication of this analysis on movements within the poultry sector, official sources at Vall Companys have contacted this editorial team to clarify that, as of today, the company has not issued any official statement nor confirmed the transaction described in the article.
At Nexus Avicultura we wish to place on record this clarification in order to faithfully reflect the group’s current corporate position, without prejudice to the market analysis and sectoral dynamics that occurred in 2025 in the Spanish broiler industry addressed in the text. This publication will update the story should an official public announcement be made or additional duly verifiable information become available.
In keeping with the editorial standards of NeXusAvicultura.com, this story is based on information from reputable financial media and specialised market sources; however, the potential transaction involving Padesa, as well as the composition and scope of the acquiring consortium, remain subject to official confirmation and announcement by the companies involved and the competent regulatory bodies. Accordingly, every corporate scenario described herein should be understood, as of today, as subject to verification and possible changes and, in any event, must not be interpreted as an official announcement by Grupo Vall Companys or Padesa.
Barcelona, 12 Dec. 2025 11:30 AM – The intense activity that has characterised the Spanish poultry sector throughout 2025 shows no sign of abating. Quite the contrary. A consortium led by Grupo Lusiaves — the leading group in the Portuguese sector — in alliance with the Spanish company Valls Companys and the Peruvian firm Tecavi, is in advanced negotiations to acquire Padesa, one of Spain’s most important poultry groups. According to multiple market sources consulted by the newspaper EXPANSIÓN, the transaction values the company at between 350 and 400 million euros.
The acquisition would be carried out through a consortium led by Lusiaves
This alliance is reported to have emerged as the winning bidder, according to the article published in the financial daily EXPANSIÓN, in a competitive process coordinated by DC Advisory, seeing off other specialist groups in the sector. The consortium led by Lusiaves has now signed an exclusivity agreement with Padesa’s shareholders to conduct a detailed business review (due diligence) before finalising the terms of the transaction. It should be recalled that, having been unsuccessful in the bidding process for UVESA, in October 2025 Grupo Lusiaves acquired a majority stake in the León-based company Oblanca.
The transaction is expected to be concluded within the coming weeks, although it is unlikely to be formally completed before the end of the 2025 financial year.
Regarding legal and financial advisory, Ceca Magán is acting as adviser to Lusiaves, while EY is working alongside Padesa, complementing the coordination role of DC Advisory.
PADESA: Spain’s second largest turkey producer and among the ten largest broiler producers
Founded in 1973 and headquartered in Amposta (Tarragona), Padesa is a benchmark in poultry meat. In turkey it is Spain’s second largest producer (the first being Procavi). In broiler chicken meat it ranks among the country’s ten largest producers, currently accounting for more than 3% of total national slaughter, and sits just behind industry giants such as Valls Companys itself and Uvesa (these two companies together holding a combined broiler market share exceeding 35%).
The group’s financial projections are robust:
- Turnover: Expected to reach approximately 450 million euros in 2025.
- Profitability: EBITDA is projected at around 70 million euros at year-end, implying margins of close to 15%.
- Workforce: The headcount stands at approximately 1,000 employees.
The Catalan company’s business model is notable for its vertical integration, controlling every stage of the value chain: from breeding and hatching, through rearing on more than 300 farms and in-house feed production, through to slaughter, cutting and further processing. The group markets fresh chicken and turkey meat, as well as processed products (burgers, sausages, ready meals, among others) under its brand Aldelís.
Regarding the shareholding structure, Padesa’s capital is currently 80% controlled by two families:
- The Centelles family, which holds 40% through the holding company Inversiones Cenmor.
- The Martorell family, owner of the other 40%.
Corporate consolidation among major poultry meat and egg producers continues unabated regardless of short-term market conditions
The transaction is being negotiated in a complex environment for the European poultry sector, marked by outbreaks of avian influenza — which has necessitated the culling of millions of birds (more than 2.5 million birds in Spain alone) — by rising prices for eggs and chicken, and by African swine fever, which is having an adverse impact on the pig sector. Nevertheless, given that corporate transactions of this nature require months or years of preparation, it is unlikely that the acquisition bears any direct relation to these recent disease outbreaks.
Evidence that demand for poultry protein is sustained, growing and not a passing trend is provided by some of the most recent significant market movements we have covered at NeXusAvicultura:
- Lusiaves: The group controlled by the Gaspar family was already at the centre of a “bidding war” earlier this year for Uvesa (the second largest national producer), in which Grupo Fuertes (ElPozo) also participated. Ultimately, Lusiaves withdrew in the face of a bid from the Ukrainian company MHP, which valued and acquired the Navarrese company for 410 million euros.
- Tecavi: The Peruvian firm continues its expansion following last year’s acquisition of a 40% stake in the Spanish company Productos Florida.
- Valls Companys: Reinforces its market leadership having taken control of Inasur in April 2025 and of Sada in 2022.
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