Cargill has agreed to establish a joint-venture with UK food business Faccenda Foods, creating what it says will be a leading player in poultry meat.
As part of the venture, Cargill’s fresh chicken business in the UK will be combined with Faccenda’s fresh chicken, turkey and duck business.
Faccenda, which supplies meat to the UK’s retail and foodservice sectors, processes more than 100 million chickens and turkeys a year with turnover of £500 million, making it one of the country’s largest privately owned food businesses.
Cargill – reportedly tempted by a move for Pilgrim’s Pride before the JBS-controlled business bought Moy Park this month – said the venture would bring together 6,000 of the companies’ employees in the UK.
It will be a standalone business operating across multiple agricultural and operational centres, ‘with broad capabilities’ across the entire food supply chain. It will be led by Faccenda Foods managing director Andy Dawkins, with Chris Hall – currently fresh chicken director for Cargill Meats Europe – becoming chief commercial officer.
Cargill Poultry president Chris Langholz said: “We believe the two organisations are complementary. Combining into one entity allows us to build on our strengths, grow in the market and better serve our customers. The venture will facilitate greater opportunities to innovate and deliver new and exciting poultry products for consumers.”
Ian Faccenda, chief executive officer of Faccenda Investments, added: “Both Cargill and Faccenda are recognised today by their customers for their high standards and great service. The new joint-venture confirms our long-term commitment to being a responsible partner across the entire supply chain, providing stability and security to our customers, suppliers and growers for years to come.”
“This is an exciting time,” Faccenda added. “We are bringing together talented people from both businesses with complementary values and expertise, and giving them the opportunity to develop and be successful in a new business with the capability to grow.”
Separate to the joint-venture, Cargill’s UK business will continue to process and sell cooked poultry products from its site in Wolverhampton, as well as operating its poultry import, trading and distribution business.
Cargill will also continue to operate its European poultry businesses in France, Russia and the Netherlands. Faccenda will retain its shareholding in Dartmouth Foods.
The name for the new business will be revealed upon completion.
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