The billionaire chairman of New Hope Group Co, China’s largest privately held agricultural company, is looking to buy fish-farming assets in Southeast Asia as part of a 10 billion yuan ($1.5 billion) push to expand overseas. “We plan to acquire an aquaculture company,” Liu Yonghao, 64, said in an interview in Beijing. Though he declined to name any companies, Liu said targets need to be sizable and have good natural resources including light, water, land and low-cost labor…Full Article: China Daily Apr 2016
- Over the next three to five years, China’s New Hope Group plans to invest CNY 10 billion (~US$1.54 billion) on food related assets (e.g. high end animal protein) overseas.
- New Hope Group is reportedly China’s largest feed producer with an annual production capacity of 26.6 million tons.
- In September 2014, New Zealand’s Synlait Milk announced plans to acquire a 25% stake in New Hope Group’s infant formula subsidiary, Sichuan New Hope Nutritional Foods (founded in 2001). New Hope Nutritional markets the “akara” brand of infant formula products in China.
- In April 2013, New Hope Group expressed interest in establishing an animal feed plant in the port area of West Bengal, India.
- In 1999, New Hope Group set up its first overseas plant in Vietnam. It has since established eight overseas factories in Vietnam, Bangladesh, Philippines, India and Indonesia.
- In 1996, New Hope Group began its overseas investment strategy.
- Established in 1982 and headquartered in Sichuan province, New Hope Group is one of China’s largest privately owned agricultural conglomerate, with more than 400 subsidiaries and over 80,000 employees (as of early 2013). The firm is China’s largest feed producer, as well as one of China’s largest suppliers of meat, egg and dairy products.