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Owners of Tranzit Group signed a joint venture agreement with the listed, French LDC Group. As part of the agreement (following the necessary approvals from competition authorities), LDC acquires a 70% ownership in Tranzit Group, which will thus become LDC Group’s leading interest in Hungary and Southeastern Europe, remaining to be led by the Szabó family who retain 30% ownership. Deloitte acted as Tranzit Group’s exclusive financial, legal and tax advisor in the transaction.
Engaged in poultry farming and processing, consolidated revenue of Tranzit Group was EUR 108 million in 2017, with EBITDA of EUR 20 million. LDC Group is the largest poultry processing company in France with an annual revenue of approximately EUR 4 billion and a net profit of EUR 140 million.
Béla Seres, responsible partner for the engagement at Deloitte commented:
Our Expert's thoughts:
"We are proud that Deloitte Private could contribute to the success of the owners of Tranzit Group in the course of this transaction, which is the largest deal of the past few years in the Hungarian food industry. Focusing on the interests of our Client the aim was to establish a joint venture structure that facilitates further growth of Tranzit Group in the Hungarian and international markets, in cooperation with one of Europe’s market leading poultry businesses."