The largest share of Tranzit Group – belonging to the Szabó family in Debrecen – was bought by France’s largest poultry processing company. It’s a huge business.Reuters reported that the French poultry processing giant, LDC has bought 70% of the Hungarian Tranzit Group. It is a huge deal, since a strong French company enters the market, who wants to open a commercial corridor primarily to Germany and it will be a strong and important player on the duck and goose market.
French LDC company is expanding quickly in Europe: an important element of this rapid expansion is that they have bought 70% of the Hungarian Tranzit Group, which has been a family business so far.
The owner of Tranzit Group is the Szabó family in Debrecen, the head of the family is Miklós Szabó. He also appeared last year on Forbes’ richest list of Hungarians, as the 23rd, with his 43.4 billion HuF. Miklós Szabó started his career as a businessman more than 20 years ago as a private entrepreneur.
The parties have not announced the purchase price, but taking into account the recent information provided by the buyer 70% of Transit Group could be worth about 35-40 billion HuF.
Tranzit Group has been a leader company on the poultry processing market in Hungary.
The whole article about the purchase can be read on the webpage of Forbes Magazine.
Source: www.forbes.hu
Photo: www.pixabay.com
