Through its European entity, CPF Europe S.A., Thailand-based Charoen Pokphand Foods Public Company Limited (CPF) has agreed to acquire a 95 percent share of Paulsen Food GmbH of Germany.
Paulsen Food’s owner, Peter Paulsen Import-Export GmbH & Co. Handels KG, is expected to transfer the shares during the fourth quarter of this year, and Paulsen Food and its subsidiaries (PF Group) will become indirect subsidiaries of CPF.
PF Group will continue to sell meat to the food service sector and food manufacturers in Germany and other European countries. CPF is set to benefit from the 76 PF Group companies that have licenses to import poultry meat and other poultry products into the European Union.
CPF’s bid to expand its business in Europe will cost around EUR12 million (US$13.7 million).
Other recent CPF expansion initiatives
In recent months, CPF has been making progress on its strategy for global expansion. At the end of 2016, the firm acquired Bellisio Foods of the U.S., and Chinese poultry producer, Cofco Meat Suqian. Early in 2017, CPF confirmed its acquisition of Polish poultry firm, SuperDrob.
The Thai conglomerate’s ambitions are not confined to the food sector. In February, CPF subsidiary, Chia Tai (China) Investment Co. Ltd, acquired a further 15 percent interest in animal feed producer, Ningbo Chia Tai Agriculture Ltd. of China, according to DealStreetAsia.
A recent review of the top poultry companies on WATTAgNet ranked the CP Group seventh in the world, with its annual output of more than 632 million birds.
