综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Companies

KKR agrees to buy 18% of China chicken firm for $400m

(Agenices) Updated: 2014-08-27 07:41

KKR agrees to buy 18% of China chicken firm for $400m

Husi faced unethical practice claims in 2013

KKR agrees to buy 18% of China chicken firm for $400m

McDonald's fishing for supplier
Private equity giant KKR & Co LP has made its fourth food safety-linked investment in China, agreeing to buy 18 percent of chicken producer Fujian Sunner Development Co Ltd for $400 million, the two firms said on Tuesday.

The deal comes as food safety scandals plague the country. US food maker Heinz apologized to Chinese consumers last week and said it would tighten controls over suppliers after it was forced to recall some infant cereal from store shelves due to excess levels of lead.

KKR's investment, for new shares in the company, will be used to increase production at Fujian-based Sunner, which supplies KFC and McDonald's, to provide safe chicken products through large-scale farms.

"Partnering with companies that meet China's demand for increased food safety is one of our key focuses," said David Liu, CEO of KKR Greater China.

Chicken is the fastest-growing protein source in the Chinese mainland, but is only 17 percent of total meat consumption, compared to nearly 40 percent in Taiwan and Hong Kong. Large-scale farms produce 95 percent of chicken in the United States, but only 30 percent in China.

Buyout firms such as KKR, Carlyle Group and Olympus Capital have become regular investors in China's food chain, employing Western technology and supply chain management to address the country's food safety scares.

KFC parent Yum Brands Inc, McDonald's Corp, Wal-Mart Stores Inc and Fonterra Co-operative Group Ltd have all suffered recently - and such incidents can seriously dent sales.

Retailers have even taken to offering insurance to customers who buy infant milk powder, showing the lengths to which companies will go to address concerns about food safety in China.

KKR earlier this year invested $150 million in COFCO Meat, a subsidiary of China's State-owned COFCO Group. The firm previously invested in China's food supply chain, through milk producer China Modern Dairy Holdings Ltd.

Hot Topics

Editor's Picks
...
...
洪泽县| 霍山县| 绩溪县| 图木舒克市| 江都市| 永州市| 沂水县| 天津市| 攀枝花市| 京山县| 克什克腾旗| 郓城县| 武乡县| 林周县| 江华| 隆安县| 昭觉县| 遂溪县| 胶州市| 河源市| 应用必备| 江山市| 韶山市| 麻城市| 蚌埠市| 冀州市| 金乡县| 胶州市| 湟源县| 新巴尔虎左旗| 宝坻区| 搜索| 景东| 福清市| 沈阳市| 株洲县| 峨眉山市| 西昌市| 天柱县| 法库县| 北川|