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COFCO coded meat industry 194 million yuan acquisition of IDT customers
News source:Dalian Jinbaiwei Food Co.,Ltd    Published:2009-12-23

Following the shareholder Mengniu, the Chinese food and then shot through the whole acquisition of IDT Customer Food Co., Ltd. coded meat industry.

China's largest grain and oil food companies COFCO Limited ("the Grain Group") today announced that, to 194 million yuan acquisition of IDT customer Foods Limited ("IDT-off") 100% equity interest in, and be included in the food group of meat industry chain development plans.

Acquisition of IDT customer is the food group, following in Tianjin and Jiangsudongtai were building the 1 million pigs healthy ecological farming industrialization project after another to create meat industry chain of action.

It is understood that IDT customers formerly known as Asia-Pacific Food (Guangdong) Co., Ltd., founded in 1994, was the first to enter the Chinese market, foreign meat business, investing U.S. Smithfield Foods Inc and Belgium ARTAL Group, the former is the world's largest vertically integrated of pig breeding and pig meat processing group, in North America, Europe has more than 30 large factories and a number of well-known brands in the food last September to acquire its 4.95% stake, as its second largest shareholder. Belgium ARTAL Group is Europe's largest multinational food groups.

IDT Customer Food Co., Ltd. CEO Shao Yuan of the said IDT customers in Beijing, Shanghai, Guangzhou, Shenzhen has set up four branches, products are cold-chain transport, through retail and users marketing the 26 provincial regions and Hong Kong and Macau. One retail revenues accounted for about company's overall operating income of 92%.

Market share, the IDT-off brand in Guangzhou and Shenzhen market, IDT customers a local low-temperature meat products brand, is owned 47% and 36% of the market. But in Beijing, Shanghai and market share but were only 7% and 6%. Shao Yuan-the acknowledged subject of the original investors investment and raw materials, transportation and other resource constraints, Beijing, Shanghai and other first-line market has been the IDT customers a piece of heart disease.

This is the IDT customer's decision to join the food community of the important reasons.

This year, COFCO that "the whole industry chain" management strategy, has worked in Tianjin, Hubei, Jiangsu and invested heavily in the meat industry chain, forming a radiation throughout the livestock industry, poultry whole industry chain structure. Meanwhile, due to strong grain and its processing business, the "source" to make it more easily with feed processing and aquaculture advantage.

"COFCO Chinese and not only is the IDT customer market share, more importantly, as a meat expert of industry experience and quality requirements." COFCO meat Investment Co., Ltd. General Manager Jiang, IFC believes that this acquisition not only on IDT customers with greater strength in North China, East China market into the vitality, but also conducive to the grain of meat industry chain of perfect.

This morning, IDT customer Foods CEO Shao Yuan this to the CBN reporter handed him "in the food version of" new business card and said: "Join in the grain family, the IDT customers to help COFCO layout of the country's logistics resources and the upper reaches of farming resources, gradually from the first-tier cities to the whole country, to improve North China, East China market. "

In fact, the world's largest meat producer, China's meat industry has a huge space for development. China Meat Association, Executive Vice President and Secretary General Deng Fujiang the case, said, as because of low temperature meat products to maximize the retention of the raw material meat flavor and nutrients, and become China's meat product development, the main direction of the market size of about In the 20 billion yuan or so. In recent years, Western-style cold meat consumption rising fast, now accounting for meat products of the total 19%. However, compared with the U.S., our country's meat processing rate to be improved. In 2008, China's meat processing rate of 15.1%, while the U.S. pork products, consumers account for pork total consumption was 62%.

Dengfu Jiang said domestic meat processing industry presents an open competitive situation, meat processing enterprises small, productivity is low, urgent need for large-scale integration. COFCO acquisition of IDT customers industry-livestock breeding, slaughter and processing, storage and sales and other links of coordination trends.


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