Cargill Enters Poultry Joint Venture in UK
September 26, 2017
American agribusiness Cargill formed a joint venture with British food firm Faccenda Foods to form a new company serving UK retail and foodservice sectors with chicken, turkey and duck products, the Minneapolis-based company announced Monday.
Joining Cargill’s existing fresh chicken business in the UK with Faccenda’s fresh poultry business, the newly-created business will operate as a standalone entity with both companies holding an equal number of shares.
“We believe the two organizations are complementary. Combining into one entity allows us to build on our strengths, grow in the market, and better serve our customers. The venture will facilitate greater opportunities to innovate and deliver new and exciting poultry products to consumers,” Chris Langholz, president of Cargill Poultry, said in a company press release.
Some 6000 workers will be employed by the new company, with some of the workforce being drawn from Cargill and Faccenda’s existing operations. The UK food company’s existing managing director, Andy Dawkins, will join the new company as its chief executive officer.
“This is an exciting time,” said Ian Faccenda, chief executive officer of Faccenda Investments, in a statement. “We are bringing together talented people from both businesses with complementary values and expertise, and giving them the opportunity to develop and be successful in a new business with the capability to grow.”
Cargill said it will continue to independently process and sell poultry at a plant in the UK and carry out its poultry import, trading, and distribution business.
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