CPF widens export channels in Europe
Charoen Pokphand Foods (CPF) subsidiary CPF Investment has signed a share purchase agreement with UK-based Westbridge Food Group (WFGL) for a combined value of £60m.
WFGL is involved in the sales of meat and ready-made products to the food industry in the UK and other countries in the EU.
It also develops and sources food products, as well as distributes them to a wide range of food companies worldwide.
WFGL is reported to have invested in 117 companies in the UK and 16 companies in the Netherlands, which holds an Import ‘Quota License’ for poultry meats and products to the EU.
The company also owns a repacking factory in the UK.
CPF executive committee chairman Adirek Sripratak said: “Most of WFGL's markets are new customers group rather than CPF's existing clients. WFGL's products mainly involve chicken, shrimp, fish and processed foods, which are in line with CPF’s product.
“In addition, CPF will have import quota license for chicken products to the EU since WFGL has more than 100 subsidiaries, which have import quota.
“Its management team also has high experiences in food business management. This investment will encourage CPF’s export opportunities to UK and European countries.”
CPF is a Thai agro-industrial and food conglomerate, which operates in livestock and aquaculture businesses.