LT Foods has executed an agreement to acquire Global Green International N.V. and its subsidiaries, including Global Green Europe Kft. and Greenhouse AGRAR Kft., as part of a European expansion. The acquisition will be undertaken by LT Foods Europe Holdings Limited or its subsidiaries and is expected to close in Q3 FY2025-26. The purchase price is EUR 6 million at closing with potential earn-outs.
Strategic Acquisition in Europe
LT Foods is expanding its operations in Europe through the acquisition of Global Green International N.V. This move includes the acquisition of Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Limited. The acquisition is in line with the company’s strategy to become a more diversified and future-ready food company.
Deal Structure and Financials
The acquisition will be completed by LT Foods Europe Holdings Limited or one of its subsidiaries. The purchase consideration consists of a cash payment of EUR 6 million at closing, plus a potential earn-out of EUR 1.8 million contingent on future earnings. The deal is expected to close in Q3 FY2025-26, subject to customary closing conditions.
Target Company Overview
Global Green International N.V. has operations primarily in Hungary. The company serves over 30 countries in Europe and is a key producer of canned sweet corn and gherkins. The company has an annual capacity of 117 million jars and cans. It operates two manufacturing sites and employs more than 170 employees.
Financial Performance of Target
The acquired entities have demonstrated solid financial performance over the past three years:
- 2022: EUR 40.8 million
- 2023: EUR 37.0 million
- 2024: EUR 40.3 million
The acquisition is subject to FDI clearance in Hungary.
Source: BSE
