Cargill and Faccenda agree to form new JV company in UK
Global food producer Cargill has entered a joint venture (JV) with Faccenda Foods to create a new UK-based company that will manufacture chicken, turkey and duck products.
The new JV company will comprise Cargill’s fresh chicken business in the UK and Faccenda’s chicken, turkey and duck operations.
The creation of the new company is subject to clearance by the relevant regulatory authorities.
Both companies will hold an equal stake in the new JV, which will be established as a standalone entity.
The new company will develop new food products and cater to consumer needs in the retail and food service sectors, according to Cargill.
Cargill Poultry president Chris Langholz said: “The venture will facilitate greater opportunities to innovate and deliver new and exciting poultry products for consumers.”
Faccenda Investments chief executive officer Ian Faccenda added: “The new joint venture confirms our long-term commitment to being a responsible partner across the entire supply chain, providing stability and security to our customers, suppliers and growers for years to come.”
Cargill and Faccenda’s new business is expected to create employment opportunities for more than 6,000 people in the UK and operate across multiple agriculture and operational centres.
The name of the new JV will be disclosed by the company upon completion of the deal.