| UPDATE 25 MARCH 2025 MHP increases its committed stake in UVESA to 50.54% through new share purchase agreements MHP, a leading international agri-food company, officially announced on 25 March 2025 the signing of new adhesion agreements with shareholders of the UVESA Group, raising its committed stake to 50.54% of the company’s total share capital. This milestone follows the Share Purchase Agreement (SPA) signed on 20 March 2025 with shareholders representing more than 41% of UVESA’s capital. The adhesion agreements have been formalised on the same terms established in the SPA, including a fixed price of €225 per share and an additional consideration of up to €21.43 per share, subject to post-closing conditions. As a result of this increased stake, MHP is now in a position to obtain control of UVESA once the transaction closes, subject to the relevant regulatory approvals, including competition clearances and the European Commission’s foreign subsidies authorisation. This transaction is fully aligned with MHP’s strategic objective of expanding its presence in the European poultry sector and reinforcing its long-term commitment to sustainable growth, innovation and the creation of economic value in Spain and other countries. |
- “Our offer is superior in terms of financial stability, long-term vision and a truly international outlook for Uvesa,” stated Óscar Chemerinski, MHP’s Managing Director.
- Ukrainian company MHP officially confirms the acquisition of a 41% stake in Uvesa through an offer that could reach €410 million.
- MHP clearly outbid its direct rivals, Grupo Fuertes (El Pozo) and Portuguese company Lusiaves.
- “Expanding in Europe means building strong partnerships, driving innovation and creating a lasting impact,” said John Rich, MHP’s Chairman.
- In 2023, Uvesa achieved record revenues of €624 million, with a net profit of €27 million.
The company of magnate Yuriy Kosiuk acquires a key stake in Spain’s second-largest poultry producer
The Ukrainian group MHP, listed in London and led by Yuriy Kosiuk, officially confirmed on 20 March 2025 the acquisition of a 41% stake in Uvesa, Spain’s second-largest broiler producer. The acquisition was made through a total offer that could reach €410 million, clearly surpassing the previous bids from its direct rivals, Grupo Fuertes (El Pozo) and Portuguese company Lusiaves.
The Eastern European company has already signed the share purchase agreement for 41% of Uvesa’s capital, and is giving the remaining shareholders a one-month window to join the transaction. Initially, its offer was conditional on securing at least 25% of the capital of a group with approximately 1,600 shareholders, the majority of whom are heirs of the veterinarians who founded the company 60 years ago.
Uvesa’s board has reserved 1.5% of the total cash amount paid by MHP to compensate its advisers and pay an extraordinary bonus to the directors who managed the sale process.
The acquisition is conditional on obtaining clearance from Competition regulators and passing the foreign subsidies scrutiny by Brussels. MHP has already obtained approval from the Spanish Government as part of the authorisation process for foreign investments in strategic assets, such as the food sector.
“Our offer is superior in terms of financial stability, long-term vision and a truly international outlook for Uvesa,” stated Óscar Chemerinski, MHP’s Managing Director.
A bidding war with a Ukrainian victor
The battle for control of Uvesa began in December 2023, when MHP launched an initial offer of €290 million. The interest generated quickly attracted Grupo Fuertes and Portuguese company Lusiaves, pushing the valuation of the Spanish producer up to €340 million. However, MHP raised its bid to a potential maximum of €410 million, of which it has already secured a share purchase agreement for 41% of the company.
The total acquisition amount could reach €320 million + €90 million
MHP’s proposal includes a guaranteed minimum payment of €225 per share, plus a potential additional sum of €21.43 per share contingent on the outcome of a legal appeal filed by Uvesa against a labour inspection. In total, the transaction could involve up to €320 million, in addition to assuming approximately €90 million in debt.
Uvesa’s board of directors agreed to allocate 1.5% of the total cash amount received to compensate its advisers and to award an extraordinary bonus to the managers involved in the sale process.
Commitment to sustainable growth and employment
Óscar Chemerinski highlighted that Uvesa brings consolidated infrastructure, a strong local presence and an effective distribution network in Spain. In return, MHP will offer its expertise in vertical integration, advanced technologies and access to new markets in Europe, the Middle East and Africa.
MHP’s growth strategy — the company was founded in 1998 in Ukraine by Yuri Kosyuk and currently exports to more than 70 countries — is geared towards maintaining Uvesa’s more than 3,000 direct and indirect jobs, and envisages the creation of new employment opportunities through the expansion of its production capacity, as occurred following the acquisition of Perutnina Ptuj in Slovenia in 2018.
“Expanding in Europe means building strong partnerships, driving innovation and creating a lasting impact,” said John Rich, MHP’s Chairman.
Regulatory approvals and next steps
The acquisition is still pending clearance from Competition regulators and approval from Brussels regarding foreign subsidies. However, the transaction has already received the green light from the Spanish Government, which viewed MHP’s project favourably.
Antonio Sánchez, Chairman of Uvesa, highlighted that this partnership marks a significant chapter for the company, stressing that “the agreement seeks to strengthen our foundations, open up new opportunities and extend our reach”.
In 2023, Uvesa achieved record revenues of €624 million, with a net profit of €27 million.
The transaction remains open until 20 April 2025, a period during which the remaining Uvesa shareholders will be able to join the 41% of shareholders who have already accepted this offer, thereby consolidating a partnership that promises to redefine the poultry landscape in Spain and Europe.
Headquartered in Tudela (Navarra), Uvesa is one of the leading companies in the Spanish food sector. It employs more than 3,000 workers and has a robust structure that includes hatcheries in Tudela and Burgos, as well as processing plants located across various autonomous communities. In 2023, Uvesa recorded revenues of €600 million and a profit of €27 million, establishing itself as a key supplier to retail chains such as Mercadona.
In Spain’s BROILER SECTOR, UVESA‘s slaughter volume in 2023 was 161,200 tonnes of poultry meat (11.3% market share), placing it as Spain’s second-largest poultry producer, behind VALL COMPANYS, which slaughtered 306,000 tonnes of poultry meat in 2023 (24.8% market share).
Further reading:
-. Official UVESA press release (20 March 2025)
-. MHP advances towards the acquisition of UVESA following Spanish Government approval (18 March 2025)
-. Grupo Fuertes bets on poultry: submits a €300 million offer for Uvesa, outbidding MHP (22 January 2025)
-. Uvesa: the great bidding war for Spain’s poultry sector reaches €340 million (26 Feb 2025)
-. News on poultry companies at NeXusAvicultura.com