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Add to Preferred SourcesNIB and the meat processing company Danish Crown have signed a seven-year loan agreement of EUR 100 million to finance the acquisition of DK-Foods in Denmark and the Gzella Meat Group in Poland, as well as the construction of a new processing plant in Pinghu, China.
Danish Crown’s new production plant in Pinghu, near Shanghai, will process meat from Danish slaughterhouses. Upon completion in 2019, the plant will produce up to 14,000 tonnes of meat products, including fresh cuts, fully cooked and semi-cooked products, and cater to a market of 80,000 potential customers.
Further, the loan will help finance Danish Crown’s acquisition of DK-Foods, a leading pepperoni producer. The acquisition was completed in May 2018 and supports the company’s growth strategy.
In addition, the Sokolow Group, a Polish meat company and subsidiary of Danish Crown, has acquired the Gzella Meat Group. Gzella Meat Group operates a processing plant, as well as logistics facilities and approximately 250 stores. This acquisition will strengthen the Sokolow Group’s position in Poland and in other international markets.
Danish Crown AmbA is a global meat processing company, and together with its subsidiaries offers various meat products and packages fresh meat. The company is a cooperative owned by approximately 7,000 Danish farmers and has its headquarters in Randers, Denmark.
Original source: NIB
Published on 20 June 2018