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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.

Pilgrim’s Pride in $350m deal to acquire GNP Company

Brazilian-owned US poultry giant Pilgrim’s Pride has entered into a definitive agreement to take over branded chicken producer GNP Company (GNP) in an all-cash $350m deal.

MLA’s plan to use $150m from levy payers under fire

Meat and Livestock Australia’s (MLA) plan to use AU$150m from its members to install X-ray carcase grading technology is facing pressure from the Australian Beef Association (ABA).

Zambeef enjoys second year of profit growth

African meat giant Zambeef has increased operating profit for the second year in a row, reporting a strong rise in trading figures to 30 September 2016.

Danish Crown sustained by demand from Asia

Demand from Asia sustained Danish Crown’s sales in the face of greater challenges in its UK market in the past year, according to chief executive Jais Valeur.

Romanian meat business invests in sausage plant

Romanian meat processor Meda Prod 98 has completed an investment estimated to be worth some €3m to launch a new facility in the country’s capital Bucharest.

Ukraine’s MHP posts $8m third-quarter loss

Ukraine’s grain and poultry giant MHP has reported a net loss of $8m for the third quarter of 2016 after a profit of $24m in the previous quarter.

JBS profits fall after Brazil headwinds

Brazilian meatpacker JBS has posted a 74% drop in third-quarter profits after the “most challenging period” in South America. 

Charoen Pokphand grows profits by 45% in third quarter

Thai poultry producer Charoen Pokphand Foods’ (CP Foods) operational profit in the third quarter of 2016 reached Baht122.5 billion, an increase of 10% while net profit jumped up 45% to...

EU meat to benefit from increased promotional budget

Beef and pork are among the EU products that will receive additional funds in 2017 for promotional activity. 

Major investment in pig processing site in Northern China

Thai conglomerate Charoen Pokphand’s (CP) Chinese business is investing CNY3.6 billion ($531m) in a site intended to process one million pigs annually in one of the country’s less populated regions. ...

World Meat Congress 2016

China’s meat demand ‘higher than expected’

China will continue to import huge quantities of pork despite its stagnant economic growth, analysts at the World Meat Congress stressed. 

Danish Crown drives forward to target northern Europe

Danish Crown aims to become market leader in northern Europe as part of a strategy it has just launched dubbed ‘4WD’. 

Aaylex completes €16m investment programme

Romanian poultry meat processor Aaylex has completed a number of investments estimated to be worth more than €16m with the aim of expanding the capacities of its breeding facilities and...

Danish Crown promises farmers more cash for pigs

Meat processor Danish Crown has announced a new strategy which includes increasing the amount it pays farmers for pigs by DKK 0.60 above the EU index price. 

HKScan pre-tax profits rise as Q3 sales drop

Finnish meat processor HKScan has reported a rise in third-quarter pre-tax profits to €8.1m, but sales during the same period were down.

Romanian meat processor invests €6m as sales rise

Romanian meat processor Caroli Foods Group will invest €6 million to upgrade production, logistics and IT capacities of its plant in Piteşti, according to senior company representatives.

Fresh pork and packaged meats boost Smithfield Foods earnings

US meat processor Smithfield Foods saw a strong third quarter of 2016, with a $60 million (m) year-on-year jump in net income. 

Pilgrim’s Pride net sales drop in third quarter

US poultry processor Pilgrim’s Pride has posted a 3.8% loss in net sales for the third quarter of the year.

Bidding war for Australia’s Kidman estate escalates

A consortium featuring four of Australia’s largest cattle families have put forward an AU$386m bid for the Kidman estate.

HKScan issues stark profit warning

Finnish meat processor HKScan has warned investors it has lowered its full-year profit forecast after previously expecting an upswing in revenue.

Croatian group eyes new meat processing plant, but EU support in jeopardy

Croatian food conglomerate Žito Group is planning to build three new meat processing facilities and a packaging plant in the north east of the country. 

Brazil’s BRF to invest $20m in China’s Cofco Meat

Brazilian meatpacker BRF SA – one of the country’s largest food processors – has agreed to invest $20m in China’s pork company Cofco Meat Holdings and form a strategic partnership.

M&C buys all shares in plastic film manufacturer Treofan

Milan-based investor M&C has acquired all the shares in the German plastic film manufacturer Treofan Holdings for €45m.

Denmark’s Premium Porc to invest €35m in Romanian pig farms

Danish pig breeder Premium Porc will invest €35 million to expand two Romanian pig farms, located in Brăila and Sibiu, and increase slaughter capacity.

Tyson Foods buys stake in Beyond Meat start-up

US meatpacker Tyson Foods has bought a 5% stake in plant-based meat vendor Beyond Meat, a start-up trying to make lab-grown beef burgers, for an undisclosed sum.