The world’s largest pork supplier WH Group Ltd (0288.HK) said on Tuesday its Smithfield Foods Inc unit would buy two packaged meats manufacturers in Romania, further expanding the Chinese group’s operations in Europe.
U.S.-based Smithfield has agreed to buy a 100 percent stake in Elit SRL and Vericom SRL for an undisclosed sum, the Chinese pork producer said in a filing to the Hong Kong bourse.
The deals are conditional on obtaining anti-monopoly approval from the relevant regulatory authorities, it added.
Elit and Vericom operate three packaged meats manufacturing facilities and five distribution centres in Romania. They sell about 25,000 metric tons of packaged meats each year to 12,000 customers through a nationwide distribution network.
In August, WH Group through Smithfield acquired Pini Polska, Hamburger Pini and Royal Chicken in Poland, as part of its efforts to expand in Europe.
By Donny Kwok
Source: Reuters
McCain Foods has completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots’ strategic partnership, which began in 2021 and resulted from a $55 million investment.
Cargill partners with Voyage Foods to scale up alternatives to cocoa-based products to meet consumers’ indulgence needs. The commercial partnership will also provide food manufacturers with nut spreads produced with no nut or dairy allergens used in the recipe formulation.
L’Occitane International owner Reinold Geiger is reportedly close to taking the company private in a deal with Blackstone. The French skin care company’s filing halted trading of its Hong Kong-listed shares this week. This is the second time in months that the Australian billionaire has attempted a buyout.
