CPF acquires stake in Chinese animal feed firm
Charoen Pokphand Foods has invested Bt1.68 billion to acquire a Chinese animalfeed company to expand its agrifood business in that country, CPF reported to the Stock Exchange of Thailand Wednesday.
The transaction was made by CPF’s indirect subsidiary Chia Tai (China) Investment. CTCI purchased a 70-per-cent stake in Fujian Sumpo Foods Holding from Sumpo International Holdings and Longyan Huiren Investment Co.
As of June, Fujian Sumpo had assets of Bt4.478 billion, while revenue and net profit were Bt3.125 billion and Bt16 million.
CPF has also set up three new subsidiaries, one of which is in Taiwan with the objective of running a laying-hen business. The other two companies are in China and Thailand, to produce processed food and run a restaurant business respectively.
