Bounty Fresh seeks growth in Africa, elsewhere

Bounty Fresh Group, a poultry company headquartered in the Philippines, has its sights on additional international growth.

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(Eraxion | Bigstock)
(Eraxion | Bigstock)

Bounty Fresh Group, a poultry company headquartered in the Philippines, has its sights on additional international growth.

The company not only has operations in is home country, but also in Indonesia, Malaysia and New Zealand. Now, it seeks other markets, reported Philstar Global.

“Hopefully going forward we can be in more markets. I am in touch with a sovereign fund and they are very interested in going to Africa (with us),” Bounty Fresh president and chief executive officer Tennyson Chen said while at the Family Business Conference 2019. “I want to be in at least 10 foreign markets going forward.”

Also included in that wish list of countries to expand are Vietnam, Cambodia and Myanmar.

Bounty Fresh’s most recent global expansion came in 2018 with the acquisition of New Zealand’s largest poultry company, Tegel Foods, which holds a 50% market share in that country for broilers and a 90% market share for turkeys. According to the Poultry International Top Companies survey, Tegel Foods slaughtered 58 million broilers in 2018 and ranks fourth among poultry companies in Oceana.

Bounty Fresh offered an unsolicited takeover bid for Tegel Foods, offering NZ$1.23 per share. Bounty’s offer was later accepted by Tegel’s board of directors.

Bounty Fresh Group, also according to the Poultry International Top Companies survey, is the second largest poultry company in the Philippines and ranks 18th among Asian broiler producers, having slaughtered 144 million broiler chickens in 2018.

Bounty Fresh is also involved in table egg production. According to the WATTAgNet Top Poultry Companies Database, it produces 48 million eggs per year.

 

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