Ukrainian poultry giant MHP to acquire 70% of Greece's Nitsiakos
What's the deal? MHP SE, Europe's largest poultry producer, has signed an agreement to gradually acquire a 70% stake in Nitsiakos, one of Greece's biggest vertically integrated food groups. The deal will proceed in three phases, with the first subject to Greek and European regulatory approvals. Once MHP reaches 70%, it retains the option to eventually take full ownership.
Nitsiakos' production and administrative hub will remain in Epirus, preserving local jobs and infrastructure.
Why now? MHP, headquartered in Ukraine, has been on an aggressive European expansion spree. In 2019 it acquired Slovenia's Perutnina Ptuj, nearly doubling its output and tripling its EBITDA by 2025 — backed by over €241M in investment. In 2025, it completed the acquisition of more than 92% of Spain's UVESA Group, a major poultry and pork producer.
The Nitsiakos deal extends that playbook into Southeast Europe, combining the Greek company's domestic market leadership with MHP's capital and global reach.
What could go wrong? Regulatory hurdles could slow the phased acquisition. MHP's Ukrainian roots may also attract scrutiny given the ongoing war, even though the company's strategy has centred on investing in EU-based operations. Integration risks are real too — merging corporate cultures across borders is never straightforward.
The signal: Europe's food industry is consolidating fast, with well-capitalised players snapping up strong regional brands. MHP's pattern — buy local leaders, inject capital and technology, then scale — mirrors a broader trend of cross-border roll-ups in the protein sector. For Greek agriculture, the deal signals that even established domestic producers see foreign investment as the clearest path to international growth.
"Every time MHP enters a new market, our ambition goes beyond commercial growth," said MHP founder and chief executive officer Yuriy Kosyuk. "We aim to strengthen the local food industry, advance sustainability in the food system, and make a meaningful contribution to the host country's economic development."
Read more: athens-times.com
