Chinese animal feed business purchased for $49.8 million
Charoen Pokphand Foods (CPF), under C.P. Pokphand Co. Ltd., has acquired Kaifeng Chia Tai, an animal feed business in China, for approximately US$49.8 million, and sold a noncore business, Rapid Thrive. The two deals provided a cost offset.
Kaifeng Chia Tai mainly manufactures and sells animal feed products. Kaifeng Chia Tai was incorporated in 1985 and the registered capital of Kaifeng Chia Tai was US$10 million.