May 17 (SeeNews) - Romanian poultry meat producer and distributor AAylex Group said on Monday that it has completed the acquisition of Banvit Foods, part of Brazilian food company BRF, for 20.3 million euro ($24.5 million).
"Through this strategic acquisition, AAylex Group will increase its animal feed, chicks and incubated eggs production capacity, covering all areas of production, from genetics, food production to animals, breeding, incubation, slaughtering, at its factories for value-added products," Aaylex Group founder and CEO Bogdan Stanca said.
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BRF signed the sale and purchase agreement with AAylex Group on December 17. The transaction was carried through BRF's indirectly controlled subsidiaries Nutrinvestment BV and Banvit Bandirma Vitaminli Yem Sanayii AS.
Banvit Foods is is active in the manufacture of animal feed and egg hatchery in Romania.
Founded in 1934, BRF sells its products in over 150 countries, on five continents, and employs over 100,000 globally.
AAylex Group is a privately owned Romanian corporate conglomerate whose main business units are Avicola Buzau, AAylex Prod and AAylex Distribution. It employs over 2,000 in its production units located in Bucharest and nine counties. Its best known local brand is Coco Rico.
($=0.826 euro)