Chinese meat processor Foresun Group has agreed to buy three beef slaughterhouses and a livestock confinement unit in Argentina from Brazilian meatpacker Margrif Global Foods SA for $75 million. Under the agreement, Black Bamboo Enterprises, a subsidiary of Foresun, will take over three meatpacking facilities in the towns of Hughes [Santa Fe Province], Vivorata [Buenos Aires Province] and Unquillo [Córdoba Province], all located in the central part of Argentina, Margrif announced in a regulatory filing. The confinement unit, based in Monte Ralo, is also in the same area…Full Article: China Daily Apr 2016
- Headquartered in Qiqihar, Heilongjiang Province, Foresun Group has already paid US$34 million for the Hughes-based plant, and will pay for the other two units within a year’s time.
- In January 2016, Foresun Group (Heilongjiang Hengyang Cattle Industry) was reportedly planning a back door listing (i.e. private company acquires a listed company) via a reverse merger with Sundiro Holding (SHE:000571), a mining and motorbike manufacturing company. Facilitating the deal were the Chinese private equity firms of CDH Investments (Beijing-based) and DT Capital Partners (Shanghai-based).
- In late 2014, China purchased a medium-sized abattoir in Entre Ríos Province, Argentina. In May 2015, the plant exported its first meat shipment to China.
- In May 2014, Victoria-based Tabro Meat, an Australia beef producer, was sold to the Chinese-managed Hong Young Capital Holding for US$18 million. Foresun Group (Heilongjiang Hengyang Cattle Industry) and Beijing’s CDH Investments participated in the acquisition of Tabro Meat. It should be noted that CDH Investments has invested in China Modern Dairy (HKG:1117), WH Group (HKG:0288), and China Mengniu Dairy (HKG:2319).
- In April 2014, Australia’s Tabro Meat was reportedly sold to WH Group (Shuanghui International Holdings), the same Chinese company that purchased Smithfield Foods in September 2013.
- Founded in 2000 and headquartered in Qiqihar, Heilongjiang Province, Foresun Group (aka Heilongjiang Hengyang Cattle Industry) is a producer of beef, pork, and other meat products including corn dogs and beef jerky.