Charoen Pokphand Foods Pcl (CPF) is the buyer
Charoen Pokphand Foods Pcl (CPF), Thailand’s biggest agriculture company, is paying $372.7 million to buy HyLife Investments, one of Canada’s biggest pork-producing and pork-processing companies.
CPF is buying 50.1 percent of HyLife; the rest is owned by Itochu Corp. of Japan.
CPF said the investment would give it access to a pork production base and opportunity to expand in North America and premium markets such as Japan.
CPF, which has livestock, aquaculture, animal feed, and restaurants businesses across 17 countries, is owned by Thailand’s richest man, Dhanin Chearavanont.
HyLife has been expanding in recent years, investing $176 million in its processing plant at Neepewa, in new feed mills at Killarney and Hanover and six new hog barns, all in Manitoba.