CPF to buy 33% stake in SuperDrob

CPF to buy 33% stake in SuperDrob

Charoen Pokphand Foods Plc (CPF), the SET-listed flagship of agribusiness giant Charoen Pokphand Group, is acquiring Polish food firm SuperDrob Capital Group, the latest bid in its overseas investment.

According to the company's statement, CPF signed a preliminary share subscription agreement with SuperDrob Zaklady Drobiarsko–Miesne SA (SuperDrob) and a preliminary share purchase agreement with SuperDrob's existing shareholders on Dec 30. The deal, worth €49.50 million (1.85 billion baht) would give CPF a 33% stake in SuperDrob.

SuperDrob is a family-run company that sells fresh and processed poultry products as well as sausages and ham. Established 23 years ago, it exports half of its products to countries including Britain, France, Germany and China.

"The cooperation between SuperDrob and CPF is a great opportunity for the company," said Jaroslaw Kowalewski, SuperDrob's vice-president for strategy.

"We will extend the range of products and integrate production and logistics. We believe this will make our products attractive to a wider group of consumers. We also hope to actively participate in the consolidation of the meat and feed market in Poland."

Adirek Sripratak, CPF's president and chief executive, said the deal will mark CPF's first step in the poultry business in a European country.

Poland is a top exporter of poultry to the European market. The move will also help respond better and faster to the regional consumer base as well as provide the opportunity to expand into other businesses in Poland that CPF has expertise in, he added.

Do you like the content of this article?
COMMENT

First Covid death in Nakhon Ratchasima

NAKHON RATCHASIMA: This northeastern province reported its first Covid-19 fatality on Friday, a hotel employee in Pak Chong district.

11:24

Insurgent killed, two arrested in clash with rangers in Narathiwat

NARATHIWAT: One man was shot dead and two others arrested during an armed clash with rangers following an attack on a defence volunteer outpost in Yi-ngo district overnight.

11:10

Media spending rally under threat

The fresh wave of the pandemic is threatening the recovery of Thailand's media spending this year, possibly reducing projected double-digit growth to flat growth in the worst-case scenario and a 4% increase in the best case, says Media Intelligence (MI), a media planning and creative agency.

10:16