Mecom and Smithfield announce strategic acquisition

Penta Investment group has agreed to sell the Mecom Group, which unites meat processing companies in Slovakia and Hungary, including the largest Slovak meat processing plant in Humenné. The buyer is one of the world leaders in the meat industry, the American company Smithfield Foods. Both parties have agreed that the transaction amount will not be disclosed and its completion is subject to the consent of the appropriate regulatory authorities in Slovakia and Hungary. By signing a purchase agreement with Smithfield Foods, Carnibona Holdings, which belongs to the Penta group, successfully completed a tender in which multiple strategic investors competed to purchase the business.

"I am pleased that our confidence in the high quality production facilities and operational excellence of Mecom has been rewarded and confirmed by the great interest shown in the business by leading global players in this industry that participated in the sales process. Crucial to the success has been the outstanding commitment, drive and industrial expertise of the management team, led by Ladislav Čechovič. Over the course of the last 13 years, we have been able to turn the Mecom Group into a viable meat processing  company, whose leading market positions in Slovakia and Hungary is complimented with excellent economic results," said Marián Slivovič, Partner at Penta Investments whose responsibility is for the group’s meat industry activities.

Today’s announcement reinforces Smithfield’s commitment to both increasing our branded portfolio and continued investment in our European operations.  The Mecom Group is a company with high quality products and outstanding employees that will fit well into our European growth plan and complement our existing brand portfolio,” said  Luis Cerdan Executive Vicepresident, European Business from Smithfield Foods.

 

About Mecom Group

The Mecom Group has two meat processing plants in Slovakia- in Lučenec and Humenné, and together they process 5,000 tons of meat products per month. They also have two smaller plants located in Hungary; one in Szolnok, which specializes in the production of traditional molded salami and processes 220 tons of meat products per month. The second plant is located in Békescsaba and produces 350 tonnes of salami per month- under the traditional Csabai brand. Mecom exports up to 54% of its production and its largest export markets are Hungary, the Czech Republic and Germany.  The group employs more than 1,400 people and in 2020 Mecom Group's revenues reached more than €138 million.

 

About Smithfield Foods, Inc.

Smithfield Foods, Inc. is an American food company with agricultural roots and a global reach headquartered in Smitfield, Virginia, since 1936. Their 40,000 U.S. team members and 14,000 European employees are dedicated to producing "Good food. Responsibly." and have made them one of the world's leading vertically integrated protein companies. They have pioneered sustainability standards for more than two decades, including many industry firsts, such as ambitious commitment to cut their carbon impact by 25 percent by 2025. Smithdield Foods, Inc. believes in the power of protein to end food insecurity and have donated hundreds of millions of food servings to their neighbors in need. Smithfield boasts a portfolio of high-quality iconic brands, such as Smithfield, Eckrich and Nathan's , Berlinki , Morliny, among many others.

About Penta

Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, media and real estate development. Its portfolio companies provide jobs to more than 43,000 people and reported assets of EUR 11.1 billion in 2020. Penta operates in more than 10 European countries and has offices in Prague, Bratislava and Warsaw.

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