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Headlines > Financial

Investment costs in Miratorg’s pig cluster rise

Investment in Miratorg’s large pigmeat factory in Kursk Oblast has reached RUB160 billion ($2.68bn), nearly 25% above original estimates, according to a report from the region’s Information Department.

GMP's multi-million dollar expansion creates 76 jobs

Australia-based Gundagai Meat Processors (GMP) has started an AU$30 million plant upgrade, generating 76 new full-time jobs.

World’s largest halal firm eyes stock market float

Brazilian meatpacker BRF plans to capitalise its new halal subsidiary OneFoods and may look to raise funds via a stock market flotation.

HKScan agrees Finnish beef deal

HKScan Finland has boosted its foothold on the beef market through its acquisition of the remaining half of Paimion Teurastamo (Paimio Slaughterhouse) from Wellcapita, based in Turku, Finland.

Hungarian group Bonafarm eyes stake in meat processor

Hungarian food processing conglomerate Bonafarm is in talks to acquire a stake in local meat processor MCS Vágóhíd Kft. 

O’Brien Fine Foods to take over Faughan Foods

O’Brien Fine Foods, owner of the Brady Family ham business in Ireland, has announced it is to acquire Faughan Foods. 

Jobs at risk as HKScan issues second profit warning

Finnish meat processor HKScan has lowered its 2016 operating profit forecast for the second time in a matter of months, with at least 35 jobs set to be axed. 

Growth propels Hilton Food Group past expectations

UK-based meat processor Hilton Food Group has traded “slightly” above the board of directors’ expectations as trading for the full-year to 1 January 2017 defied economic forecasts.

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Danish Crown beef takeover speeds growth plan

Danish Crown’s planned takeover of German slaughterhouse Teterower Fleisch will reinforce the company’s global strategy of increasing revenue generated by beef from 10% to 15%.

Danish Crown in Teterower Fleisch takeover

Danish Crown is set to become one of Germany’s largest beef processors after the pork giant announced a takeover of slaughterhouse Teterower Fleisch for an undisclosed sum.

BRF to buy Turkey’s Banvit in $470m venture

Brazilian meatpacker BRF SA and Qatar’s sovereign wealth fund have agreed to buy outright the largest poultry producer in Turkey, Banvit, in a joint venture worth $470m. 

Smithfield strengthens supply chain with swoop on Clougherty

Smithfield Foods has completed its acquisition of Clougherty Packing LLC in a cash deal worth $145m. 

News in brief

Wellard expects ‘trading loss’ after bank trouble

One of Australia’s largest livestock exporters, Wellard Limited, has confirmed it expects a trading loss in the first half of the year after breaching bank covenants.

Thai CPF continues expansion with €49.5m SuperDrob stake

Thailand’s Charoen Pokphand Foods (CPF) has signed a preliminary deal to acquire a 33% stake in Polish poultry processor SuperDrob SA less than a fortnight after its big money Bellisio...

CP Foods thaws US with $1bn Bellisio takeover

Thailand’s Charoen Pokphand Foods (CP Foods) has flexed its financial muscles with a $1.075bn takeover of frozen specialist Bellisio Foods and a 33% stake in Poland’s SuperDrob.

Dutch poultry group Plukon to expand in France and Poland

Poultry processor Plukon Food Group has continued its European expansion by entering into an agreement to acquire French chicken business Duc Group for an undisclosed sum.

UK’s Lamex swoops for Dutch meat business Liberty Holdings

Dutch meat and poultry business Liberty Holdings BV has been acquired by UK company Lamex Food Group for an undisclosed sum.

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).