German meat producer acquired
The German meat producer Moksel has been acquired by Netherlands-based Sobel Group, for around Eur100 million ($103 million). Sobel specialises in organic products, carcass and blood disposal, gelatine production and health products. According to the company, it sees packed fresh meat as a growth market. The takeover is Sobel’s first foray into the meat market, and it expects overall sales this year of around Eur750 million ($774 million). Moksel posted net earnings of Eur10.3 billion ($10.6 billion) in 2001, and will be incorporated within the newly created Sobel subsidiary Bestmeat.