SUBSCRIBE

Breaking News on Global Meat Trading and Processing

Headlines > Financial

Read more breaking news

 

 
News in brief

Thai firm in £60m takeover of UK food business

Post a comment
Oscar Rousseau

By Oscar Rousseau+

04-Apr-2017
Last updated on 04-Apr-2017 at 10:57 GMT2017-04-04T10:57:24Z

The investment will bolster CPF's ambitious growth plans outside of Asia
The investment will bolster CPF's ambitious growth plans outside of Asia

Thailand-based Charoen Pokphand Foods (CPF) has agreed a deal to acquire UK-based Westbridge Food Group Limited for £60m.

The deal was struck between CPF’s subsidiary CPF Investment Limited and Westbridge Food Group Limited (WFGL) and expands the Thai company’s ability to export food to EU markets.

WFGL retains a number of export quota licences – a certificate needed to trade meat – for poultry and meat. And it was WFGL’s already-established export trade with European countries that attracted CPF to the business.

CPF chairman Adirek Sripratak said the EU and UK markets offered great potential for sales growth and the takeover would expand the company’s distribution network for retailers, foodservice and manufacturers.

Most of WFGL’s markets are new customer groups rather than CPF’s existing clients,” Sripratak said in a statement.

WFGL’s products mainly involve chicken, shrimp, fish and processed foods, which are in line with our product range. In addition, CPF will have an import quota licence for chicken products to the EU, as WFGL has more than 100 subsidiaries [all of] which have import quotas.

[WFGL’s] management team also has high experience in food business management. This investment will encourage CPF’s export opportunities in the UK and European countries.

CPF has already made a number of astute business deals in the last six months, after agreeing a preliminary deal to buy a 33% stake in Poland's SuperDrob , in addition to a $1bn takeover of US-based Bellisio Foods.

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Related products

Related suppliers