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Headlines > Financial

Wegdam Foods acquires Tilly Sabco for undisclosed sum

Dutch meat firm Wegdam Foods has announced the takeover of administration-hit French poultry supplier Tilly Sabco, saving 61 jobs.

Group of Butchers joins Equistone family

European mid-market private equity investor, Equistone Partners Europe, has announced the acquisition of the majority stake in Group of Butchers from Nordian Capital Partners. 

News in brief

Brazil’s billion-dollar meat industry faces price and health pressures

Brazil’s giant meat industry could become the world’s top protein exporter next decade, but analysts warn it needs to understand consumer demands are changing. 

Indian currency ban causes hardship in country's poultry sector

Indian poultry farmers have slowed the breeding of chicks to lower their costs after demand fell sharply following the central government’s unexpected announcement that large currency notes – valuing 86%...

Ukraine facing revenue loss after EU poultry ban

Ukraine’s poultry industry is set to lose up to UAH150 million ($5.7m) per month due to the EU ban on poultry imports, according to the Ukraine Agribusiness Club (UAB).

Montenegrin meat processor launches new plant

Montenegro-based meat processor Novi Monteživ has opened a new processing facility in Nikšić, in the east of the country. The move is in response to increasing demand for high-quality poultry...

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.