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Headlines > Financial

Brazil's JBS moves on Danish Crown US outfit

Brazil’s JBS has agreed to buy US-based Plumrose USA from Danish Crown in a definitive share purchase agreement, valued at $230m.

Irish government and Bord Bía in €3.75m pact to unlock Asia

Ireland’s Department of Agriculture, Food and the Marine, alongside food board Bord Bía, will spend €3.75m over three years to promote red meat sales in China, Japan and Hong Kong....

China's poultry, pig businesses grow sales

China’s ban on breeding birds from France and the US is boosting revenue and profitability at domestic poultry firms.

Multi-million pound investment in French factory

UK-based food packaging manufacturer Linpac is to invest in what it called "cutting-edge technology" at its factory in Pontivy, France.

Danish Crown buys UK foodservice business

Danish Crown has swooped on long-standing UK foodservice business Leivers Brothers, acquiring the Nottingham-based firm for an undisclosed sum.

Bird flu blamed as chicken company sees sales fall

French chicken producer Duc saw turnover decline last year as the French avian influenza (AI) battle saw the company shut out of key export markets, China and South Africa.

Polish meat business to pump cash into production

Meat processor Indykpol has secured PLN105 million (€24.5m) to expand the processing capacity of its plant in Olsztyn, in Poland’s north-eastern region.

Animal business drives up profit for Thai food firm

Net profits soared by 33% at Charoen Pokphand Foods (CPF) in the past full financial year, powered mainly by recovery in Thailand’s shrimp industry and its Thailand terrestrial animal business...

Irish cooked meat business creates 150 jobs

Dawn Farms’ multi-million euro investment in its Meat Science and Innovation lab in Co Kildare, Ireland, will create 150 new jobs over the next five years, the company has claimed.

Brazilian meat giant ‘dissatisfied’ after loss

Meat processor BRF’s fourth-quarter net income fell by over 130% as a combination of political uncertainty and market challenges pushed results into the red.

Value offering grows Maple Leaf Foods’ pork sales

Maple Leaf Foods’ increased focus on value-added pork products has helped the Canadian processor grow sales in 2016.

Thai takeover of top Russian meat plant nearly done

Talks to acquire a top Russian meat factory, the Ostankino Meat Processing Plant (OMPP), could be concluded by Thailand's CP Foods arm Charoen Pokphand Foods (overseas) LLC (CP Foods) next month....

Profit up for South African foodservice corporation

Multinational foodservice giant BidCorp has reported a 20% rise in half-year profit less than a year after its spin-off from Bidfood (formerly Bidvest Foodservice).

Polish meat business lifts sales as cash injection looms

Poland’s meat processor Gzella Poland sp. z o.o. increased its year-on-year sales by 40% in 2016 with the business eyeing expansion as ABP Food mulls investment in the high-flying firm.

News in brief

Italian meat producer makes millions in ham deal

Cured meats producer Gennari Italia has scooped €10 million in a single trade deal through the sale of 100,000 units of Protected Designation of Origin (PDO) Parma ham.

Atria in profit growth despite ‘tough’ price pressure

Meat processor Atria has reported a near-30% rise in full-year pre-tax profit as the business, which recently cracked China, continues to expand.

Tyson Foods under federal investigation for alleged price fix

Tyson Foods, one of the world’s largest meat processors, is under federal investigation for allegedly colluding with other meat companies to raise the cost of poultry.

Investment business secures Carolina meat producer

Investment advisor Gordon Brothers has secured a majority equity share in Carolina Pride, throwing its substantial financial muscle behind the family-owned South Carolina packaged meat producer in a strategic partnership.

Pilgrim’s Pride sees major fall in income

US poultry producer Pilgrim’s Pride saw its full-year income decline by nearly a third in 2016. 

HKScan to cut 150 jobs after ‘weak’ results

Troubled meat processor HKScan will cut up to 150 jobs and review its business model as profits continue to fall, according to its CEO

CP Foods pumps cash into Russia’s meat industry

Russia will see millions of dollars invested in its meat industry this year amid Thailand's Charoen Pokphand Foods' (CP Foods') plans to pump US$2 billion into expansion there by 2020. 

Tyson Food posts ‘record’ results – again

US meat giant Tyson Foods looks on track for a fifth consecutive year of record financial results, with beef and pork enjoying “outstanding” growth.

Shareholders vote to save struggling Duc

Shareholders at French poultry giant Duc have voted, in an extraordinary general assembly, to increase their share capital and complete the company’s takeover by Plukon Food Group.

Growing poultry crisis sees RCL Foods’ profit fall

South Africa’s RCL Foods has warned that its half-year profits could fall by more than 50% as the massive challenges in the domestic poultry market send earnings tumbling.

Greencore targets US revenue growth as costs rise

Convenience food business Greencore is targeting US revenue growth after the Ireland-based firm reported “strong” financial results in the 13 weeks to December 2016.