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Financial

Money makes the world go round and the meat industry is no different. Deals are always being brokered and currency fluctuations are a key issue for any global meat trader.

Chinese giant linked to Moy Park bidding war

Chinese pig and chicken giant New Hope Group is rumoured to have joined a fierce bidding war for Northern Ireland poultry processor Moy Park.

Argentina opens borders to US pork

For the first time since 1992, Argentina will allow US pork to enter the market. 

Booming Asian mega farms are an ‘economic risk’

Investors should not get overexcited by the risky Asian meat industry as booming production may not translate to soaring profits, a FAIRR (Farm Animal Investment Risk & Return) Initiative report...

Smithfield Foods buys Kansas City Sausage Company

Smithfield Foods Inc has announced the full acquisition of sausage producer and processor Kansas City Sausage Company.

JBS net income drops in second quarter

JBS suffered a mammoth 80% year-on-year drop in income for the second quarter of the year, due to growing net financial expenses. 

Chinese livestock firm taps up Southeast Asia

A leading Chinese livestock and meat processing firm wants to tap supply of cattle from south-east Asia, with a cattle quarantine and slaughtering hub planned for the city of Ruili,...

Kerry Group sees half-year revenue growth

New technology and acquisitions, particularly in the Americas, by the Kerry Group has seen a growth in revenue for the first half of the year.

Polish meat producer creates 140 jobs

Poultry producer Lech Drób plans to invest some PLN 21 million (€5 million) and create at least 140 new jobs at new facilities in Zalewo, north-east Poland.

Product range drives plump growth for Pilgrim’s Pride

A diverse mix of chicken products bolstered income for US poultry processor Pilgrim’s Pride, which soared by more than 50% in the second quarter.

Devro aims for future growth in China

Asian and Russian market growth proved to be profitable for casings manufacturer Devro in the first half of the year, but China has been tipped by the business to be...

Marel taps into Brazil with Sulmaq acquisition

Marel will acquire Brazilian meat processing solutions provider Sulmaq for an undisclosed sum as it sees “growth potential” in South America’s food production industry. 

JBS rival Minerva Foods closes $300m takeover

Downsizing at the world’s biggest meatpacker JBS is fully under way after its rival, Minerva Foods, closed a $300m acquisition of beef assets in Argentina, Paraguay and Uruguay.

Cherkizovo Group chairman consolidates company stake

The chairman of Cherkizovo Group, one of Russia’s largest meat processors, will consolidate his stake in the company by buying 21.3% of its shares, currently owned by Prosperity Capital Management,...

Bank deal helps JBS stabilise $6.5bn debt – for now

Meatpacker JBS SA has reached a deal with its lenders to stabilise the terms of billions of dollars in debt owed by its JBS Brazil unit.

Ajinomoto set to thaw Europe with multi-million euro takeover

Japanese food giant Ajinomoto has fired up its European growth plans with the acquisition of France’s frozen food business Labeyrie Traiteur Surgelés (LTS) for an undisclosed sum.

Premium meatpacker bought by Japanese trader

US-based beef and pork supplier Creekstone Farms has been sold by Sun Capital Partners to Japanese trading conglomerate Marubeni Corporation for a fee thought to be $170m. 

Spanish business buys $27m stake in Russia's Cherkizovo

Spain’s Grupo Fuertes has increased its stake in Cherkizovo to 8% after the Russian company’s biggest shareholder, MB Capital Europe, put 1.8 million shares up for sale.

London investor pumps cash into African chicken farm

Tanzania-based Kingchick Poultry has received a six-figure sum from a London agri-business investor as the African farm aims to scale up operations to supply local markets with low-cost chicken.

Hilton Food Group sees sterling drop benefit

UK-based meat packing business Hilton Food Group (Hilton) has reported solid financial growth for the year so far with currency fluctuations aiding progress.

Acquisitions assist Atria’s profit rise

Two takeovers in the past 18 months have helped Finnish meat processor Atria post what its CEO called “delightful” profit and sales growth. 

Hard-hit HKScan posts €20m loss

An earnings decline across HKScan’s biggest Scandinavian markets saw the struggling Finland-based meat processor post a €20.8m pre-tax loss in its half-year results.

OctoFrost Group buys Dutch Innotec Systems

A Sweden-based manufacturer of machinery tunnels used to quick-freeze bulk meat products has acquired Dutch Innotec Systems for an undisclosed sum.

Cargill profit boosted by rising meat demand

Agricultural commodities trader Cargill pulled in some of its best financial results in years, as strong demand for protein lifted earnings.

News in brief

Mexican poultry processor Bachoco to acquire pet food company

Mexican poultry processor Bachoco S.A.B. de CV (Bachoco) has reached an agreement to acquire La Perla, a pet food company located in the state of Queretaro.

Romanian poultry meat producer creates 470 jobs

Romanian poultry meat producer Safir plans to create 470 new jobs at its facilities in the Vaslui municipality, in Romania’s eastern region.