LT Foods Withdraws Hungary Deal After Regulatory Setback

has officially cancelled its planned acquisition of Hungary-based Global Green Group after Hungarian authorities did not grant the required approval, prompting the company to withdraw the deal. Earlier, LT Foods had agreed to buy 100 % of Global Green Europe, a shelf-stable fruits and vegetables business with an annual turnover of about €40 million and more than 170 employees operating two manufacturing sites in Hungary for an enterprise value of approximately €25 million, paying €6 million upfront and a further €1.8 million over two years through an earn-out while assuming the target’s debt. This deal was aimed at expanding LT Foods’ European packaged and canned food footprint and diversifying its ready-to-eat/ready-to-heat portfolio within a roughly €15 billion European category, but it could not proceed due to the regulatory rejection in Hungary, leading LT Foods to walk away rather than pursuing the transaction without clearance. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.