Danish Crown acquires total shares of Sokolów

By Georgi Gyton

- Last updated on GMT

Danish Crown takes full ownership of Sokolów
Danish Crown takes full ownership of Sokolów

Related tags Danish crown Meat Meat processing Livestock Beef Pork

Danish Crown has taken full ownership of Polish processed meat producer Sokolów, after acquiring the remaining 50% of its shares for around DKK1.3bn (€180m).

Sokolów had been owned 50/50 by Danish Crown and partner company, Nordic meat company HKScan Group. HKScan acquired a minority stake of Sokolów in 2002 and, following a link-up with Danish Crown in 2004, the two firms formed a joint venture called Saturn Nordic Holding for the purpose of owning shares in the Polish business.

Kjeld Johannesen, group chief executive of Danish Crown, said the firm had enjoyed an excellent working relationship with HKScan over the past 10 years and had "realised fantastic growth in both revenue and earnings".

"It is our clear goal to continue this development, and sole ownership is the right step. In this way, Danish Crown will benefit even further from the synergies inherent in having Sokolów as a subsidiary of the Danish Crown group,"​ he continued.

He said the acquisition of the remaining shares in Sokolów was completely in line with Danish Crown’s strategy of investing in processing activities.

Johannesen said that, in Poland, Sokolów was known as the ‘Coca-Cola’ of the meat industry, with its strengths in production of sausages, cold cuts and other processed meat products. It is also the largest cattle slaughterhouse business in Poland, and the third-largest pig slaughterhouse business, said the firm.

Flemming Enevoldsen, chief executive of DC Foods – Danish Crown’s processing division, added: "Right from the outset, our intention has been to develop Sokolów on all parameters, and today it is a truly modern business. At the same time, we have a strong management team, which has demonstrated its ability to create organic growth – and there is nothing to suggest that we have reached the top yet."

The transaction is subject to approval by the Competition Authorities.

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