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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.

Australian growth drives positive Hilton trading

International meat packing business Hilton Food Group has reported a solid trading update, driven by strong growth in Australia.

Greencore grows revenue during 'transformational period'

Food group Greencore reported a 46% rise in group revenue for the first half of the year despite massive changes to its global business, including significant investment.

Coexca to create 350 jobs after Danish investment

A multi-million dollar investment in Chilean pork producer Coexca SA will create 350 jobs as the farmer-owned cooperative aims to double production amid booming Chinese import demand.

Japan's supermarkets targeted in US marketing push

The US Meat Export Federation (USMEF) is partnering with supermarket chains and event organisers in Japan’s regions to strengthen already high US red meat sales by localising marketing, public relations...

Poland's QFG begins work on €40m slaughterhouse

Polish meat company QFG has begun construction work on a new poultry slaughterhouse due to be opened in the first half of 2018 in Radom, central Poland.

JBS posts poor income amid bribery investigation

Brazil-based JBS, one of the world’s largest meatpackers, has reported poor results for the first quarter of 2017.  

Sales drop and plant fires hit Tyson Foods

A combination of plant fires and declining sales has led US processor Tyson Foods to another quarter of decline.

News in brief

NH Foods buys stake in Uruguay beef business

Japanese meat processor Nipponham Foods (NH Foods) has made its second move in South America through a multi-million dollar takeover of Breeders & Packers Uruguay (BPU). 

Cherkizovo finalises takeover of major grain producer

Russia’s Cherkizovo has acquired one of Russia’s leading grain producers Napko, in a deal that appears to be the largest single merger in the country’s agriculture sector over the past...

Big chicken company reports first-quarter profit

Pilgrim’s Pride, which claims to be the world’s second-largest chicken producer, made over $90m profit in the first quarter of 2017, down by a fifth year-on-year.

Healthy snacks drive Kerry Group's volume sales

Ireland-based food giant Kerry Group reported volume growth across the board as demand for healthy snacks, including meat, drove sales at a time when consumer spending is tight.

Polish meat firm eyes takeover of local producer

Polish meat company Gobarto SA has signed a preliminary contract to purchase local meat distributor Jama sp. z o.o.  under a deal with an initial value of PLN 12 million...

Poor results continue as HKScan cuts 160 jobs

Beleaguered meat processor HKScan has endured more decline, and a company-wide restructuring bid to avert further pain will lead to 160 job losses. 

JBS closes takeover of Danish Crown’s US outfit

The American subsidiary of Brazil-based JBS has completed its acquisition of Plumrose USA, buying the formerly Danish Crown-owned business for $230m.

Trump’s biggest tax cut in US history thrills meat sector

The US government plans to cut taxes for big and small businesses in the largest reform since the Reagan era – and the meat industry is pleased that the death...

Rising sales ease pressure on Finnish meat producer

Finland-based meat processor Atria has reported an upturn in first-quarter sales thanks to improved conditions across the food supply chain.

Tyson Foods in sandwich mega deal

US-based Tyson Foods has agreed to acquire sandwich-maker AdvancePierre Foods in a $4.2bn deal that will expand the giant meat processor’s market share in prepared foods.

News in brief

Conagra completes takeover of meat snacks brand

Packaged Foods produced Conagra Brands has completed its acquisition of meat snacks and sunflower seeds maker Thanasi Foods for an undisclosed sum. 

Polish meat business to invest €26m in new factory

Polish meat business Agro-Rydzyna plans to invest PLN 110 million (€26 million) by 2020 to increase production at its Kłoda meat plant and build another processing facility in Poland

Subway to sue Canadian broadcaster for defamation

Fast-food chain Subway has filed a CA$210 million defamation lawsuit against the Canadian Broadcasting Corporation (CBC) after the broadcaster claimed some of its chicken was less than 50% meat.

Ukrainian firm’s global chicken sales continue to fly

Ukrainian agro-industrial company MHP has reported rising exports of chicken to global markets, particularly in Asia and North Africa.

Latvian meat business to invest up to €7m next year

To expand and modernise its facilities, Latvian meat producer Putnu Fabrika Ķekava (PF Ķekava) plans to invest between €6 million and €7m in its next fiscal year, according to senior...

German group buys two meat companies

Private equity group Deutsche Beteiligungs AG (DBAG) has swooped on two family-run meat firms in a bid to create a chilled foods "market leader" in Europe.

US targets Japan's appetite for luxury beef

US suppliers are expanding in Japan’s competitive high-end beef market to build on growing consumer demand for US beef.

Livestock exporter seeks shareholder help after ‘difficult trading’

Financially-troubled livestock exporter Wellard Limited has written to shareholders seeking to raise AU$52m as the embattled Australian company faces “difficult trading conditions”.