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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.

BRF profits drop after ‘challenging’ period

Brazilian meat processor BRF has reported a slide in gross profits for the first quarter of 2016 as pressure on poultry prices and the cost of corn hurt its income.

Silverfleet Capital agrees to sell Kalle Group

Private equity firm Silverfleet Capital has agreed to the sale of casings supplier Kalle Group to a fund managed by Clayton, Dubilier & Rice (CD&R)

Pilgrim’s Pride reports pre-tax profit drop

Mexico’s second-largest poultry producer – US-owned Pilgrim’s Pride – has reported a fall in pre-tax profits for the first quarter of 2016 after a “challenging” winter.

Russian drama for Parma as ham sales fall

Full-year trading figures for Parma Ham show strong export growth for the dry-cured charcuterie favourite. But, predictably, sales in Russia have dropped as the Kremlin embargo heaped pressure on the...

BRF strengthens Oman operation with AFK stake

Brazil’s BRF, one of the world’s largest meat processors, has entered into negotiations with frozen food distributor Al Khan Foodstuff (AFK) to acquire full control of the Omani business....

Chinese beef firm blames falling prices for first-quarter loss

One of China’s most ambitious cattle breeders and genetics companies, Xinjiang Tianshan Animal Husbandry Bio-engineering Co, has blamed a fall in beef and mutton prices for what it predicts is...

APK-Invest profitability restored as Ukraine armed conflict subsides

Ukraine’s largest pork producer APK-Invest earned UAH65 million ($2.5m) of net profit in 2015, compared with UAH103 million ($4m) of net losses in 2014.

French government plan to fine meat firms criticised

French agriculture minister Stéphane Le Foll’s plan to boost transparency in the meat industry will not halt the decline in France’s agro-food sector, according to meat organisation Culture Viande. ...

News in brief

Scandi Standard becomes majority shareholder in Danish poultry firm

Sweden-based poultry processor Scandi Standard has bought a majority stake in Sødams Øko Fjerkræslagteri ApS – which loosely translates in English to Sodams Organic Poultry Slaughterhouse.

Bulgarian poultry processor invests €8m to modernise capacity

Bulgarian poultry processor Gradus has revealed it has invested more than BGN15 million (€8m) to expand and modernise its output capacity. 

News in brief

BRF in takeover of Globosuínos’ pork assets

Meat giant BRF has continued to flex its financial muscle in South America with the acquisition of Brazilian pork producer Globosuínos.

Danish Crown VP resigns after clashing with board members

Danish Crown’s vice president Flemming Enevoldsen, who heads up the company’s subsidiary Tulip, has resigned by mutual consent after a number of high-level strategic disagreements over the UK market....

Cargill revenue pulled down by falling beef exports

Cargill, one of the world’s largest agricultural traders, has reported its financial results for the third quarter and the first nine months up to 29 February 2016.

China pounces on Marfrig's Argentinian assets

Brazilian meat processing giant Marfrig has sold a raft of its Argentinian assets to the red meat Chinese business Black Bamboo Enterprises, a subsidiary of Foresun Group.

Atria nears €18m takeover of Lagerberg

Finland’s meat processor Atria has won the approval from the Swedish Competition and Consumer Authority to complete its pending acquisition of poultry firm Lagerberg.

Hilton Food Group buoyed by strong profits

Multinational meat packing business Hilton Food Group has reported strong profit growth for 2015, but analysts have questioned if the business can maintain results against the backdrop of Brexit.

Ireland’s ABP eyes Polish meat processor

Irish meat giant ABP Food Group has unveiled plans to acquire the assets of Polish beef processor Sklodowscy-Tykocin sp z o o.

Premium Brands acquires C&C Packing

Canadian food company Premium Brands has bought meat supplier C&C Packing in a deal worth around CA$146m.

Yum! linked to KKR talks over sale of China division

Fast-food giant Yum! Brands, owner of KFC, Taco Bell and Pizza Hut, is rumoured to be in early negotiations with US equity firm KKR over the sale of a minority...

BRF buys Argentina meat processor Calchaquí

One of Brazil’s largest meat firms BRF has acquired the Argentinian pork business Alimentos Calchaquí, according to an investment bulletin published by BRF.

Tyson Foods – moving away from protein

Multinational food processor Tyson Foods’ transition from a meat provider to a branded food company has made it a financially “stronger” outfit ready for growth, according to the business.

CSP to buy Maxwell Chase Technologies

US packaging company CSP Technologies plans to expand in the food industry through a deal to take over the Atlanta-based business Maxwell Chase Technologies.

Atria eyes takeover of Swedish poultry firm Lagerberg

Finnish meat processor Atria plans to move into the Swedish poultry industry with the acquisition of Lagerberg – Sweden’s third-largest chicken supplier, according to Atria.

Devro entering tough period

Scottish manufacturer of sausage casings, Devro, is entering a period of “greatest operational risk”, according to the investment management firm Shore Capital.

Pork price lowest in eight years

The falling price of pork experienced by key exporters from around the world has meant the average price of pork continued to fall in 2015, according to a market report...

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