Chinese group waits Romanian competition council's OK for local transaction

Romania’s Competition Council is analyzing the operation by which Smithfield Romania will take over local meat producers Elit and Vericom 2001. Smithfield Romania, which is part of the US group Smithfield Foods, will take over the two companies from local investor Dorin Mateiu if it receives the agreement of the Competition Council. Smithfield Foods is controlled by the Chinese group WH Group Limited, a holding mainly involved the production and marketing of fresh and semi-processed pork. In Romania, Smithfield Foods mainly focuses on pig breeding and the sale of live pigs, as well as production of fresh and semi-processed pork. Smithfield Prod, the group’s largest company in Romania, recorded a turnover of EUR 200 million last year, up 16% year-on-year. Its activity revolves around a slaughterhouse in Timis. Elit and Vericom 2001 had a combined turnover of EUR 96 million and over 1,400 employees in 2016. Chinese group to buy packaged meats producers in Romania editor@romania-insider.com