Greek poultry producer Nitsiakos announced on Saturday that it has signed an investment agreement with MHP SE, Europe’s largest poultry producer, under which the Ukrainian food group will gradually acquire a 70% stake in the company.

The transaction is expected to be completed in three phases over the coming years, subject to regulatory approvals. MHP will also retain the option to increase its holding to 100% at a later stage.

Nitsiakos said the partnership would strengthen its production capacity, support the development of new products and expand its international presence, while keeping its production and management base in north-western Greece.