Ukraine’s MHP Plans to Buy 70% of Greek Poultry Producer Nitsiakos

Ukrainian agrifood and agritech group MHP plans to buy a controlling stake in Greek poultry producer Th. Nitsiakos AVEE, the company wrote, in its latest move to expand abroad. The deal has not yet closed.

Ukraine’s second largest agrifirm has signed an agreement that sets out a long-term partnership and a phased purchase of 70% of the Greek company over several years, with both sides agreeing that MHP may later raise its holding to 100%.

The move is comparable to MHP’s previous purchase of Spanish chicken meat producer Uvesa, as Russia’s full-scale invasion pushed Ukrainian companies to expand their presence abroad to cover the war risks, seek more export markets, and compete globally.

The transaction still depends on standard conditions, including the necessary regulatory approvals, before it can be completed, the company wrote in its press release.

“Th. Nitsiakos AVEE is a company with over 50 years of experience in Greece’s food industry that has built a strong, vertically integrated business. I am confident that together we will build an effective partnership that will strengthen the international arm of the MHP Group and, as a result, enable our business in Ukraine to remain sustainable and continue to grow,” said Yuriy Kosyuk, founder and CEO of MHP, as cited in the press release.

Th. Nitsiakos AVEE is headquartered in Ioannina and founded in the 1970s. It produces and distributes poultry and other meats, animal feed, and pet food across Greece, and posted revenue of about €540 million ($626 million) for 2025, according to the press release.

The intended Greek acquisition is the second purchase of a European asset for the company. In August, MHP completed the purchase of more than 92% of Spanish poultry and pork producer Grupo UVESA, closing a transaction first signed in March 2025 after clearances in Ukraine, Spain, Saudi Arabia, Serbia, Montenegro, and Kosovo, as well as the European Commission. That deal was settled in cash at a fixed price of €225 per share ($259), plus a contingent payment tied to future performance.

MHP’s main business is poultry, with chicken meat and chicken products exported to more than 80 countries, including the EU, the UK, and Asia, under brands such as Qualiko, Ukrainian Chicken, Assilah, and Sultana. Through its subsidiary Perutnina Ptuj, the group also runs a Slovak operation active across several countries in the region. The company employs 32,000 workers.

Inside Ukraine, where it once traded as “Myronivsky Khliboprodukt,” the company also opened a plant in Dnipro, acquiring the “Ukrainian Meat Farm” for further development, and starting up biomethane production.

Original Post