Chinese meat company announces strategic partnership
KKR, BaringPrivate Equity Asia, HOPU and Boyu will invest in the company alongside its existing shareholders in order to build and manage large-scale industrial hog farms and meat processing plants in the country, said the firm.
The company, a subsidiary of COFCO Group, produces, processes and distributes hogs and poultry, and claims to be one of the largest hog producers in China.
Ma Jianping, vice president of COFCO Group and chairman of COFCO Meat, said: "This strategic partnership brings in four world-class investment funds to support COFCO Meat’s development.
"The investment is a recognition of our past achievement and future potential, and we believe these investors’ extensive global networks, professional local teams and deep operational experience will accelerate COFCO Meat’s strategic goal to become the leading provider of China’s safe meat products."
Ning Gaoning, chairman of COFCO Group, said: "Meat is the single-largest food category in China’s diet and meeting this demand is a critical link and a natural extension of our company’s value chain."