RANDERS, Denmark – Danish Crown announced plans to acquire all shares in Team Ugglarp, a subsidiary of KLS Ugglarps AB, by Jan. 1, 2013.

Team Ugglarp runs Sweden's second-largest cattle slaughterhouse in Hörby in Skåne. Ownership of Team Ugglarp has been divided between the Danish Crown group, which owns 51 percent, and its former owner and CEO, Tommy Olsson, who has a 49 percent share.

Danish Crown will own all the shares in the company in accordance with agreements which were made in conjunction with the majority takeover back in 2008, according to Danish Crown. Olsson has decided to step down in connection with the takeover, and the company will now share the same management as KLS Ugglarps AB with Johan Andersson as CEO.