|British duck breeder Cherry Valley Farms acquired by Chinese firms |
by GBTIMES Beijing Sep 12, 2017 10:39 INVESTMENT AGRICULTURE
Two Chinese companies have acquired leading UK-based duck firm Cherry Valley Farms for US$183m. Photo is illustrative. Britbrat778899 Pixabay
Two Chinese companies have acquired leading UK-based duck firm Cherry Valley Farms for US$183m.
The acquisition, which includes Cherry Valley Farms’ breeding technologies and patent rights, was jointly carried out by Beijing Capital Agribusiness Group and CITIC Modern Agriculture Investment Company.
Founded in 1958, the company has cornered more than three-quarters of the global duck industry, as well as 80 percent of the Chinese market. It has three operational centres, in England, China and Germany, and sells its produce to more than 60 countries and regions.
Coincidentally, Cherry Valley Ducks, also known as Pekin Ducks, actually originate from Beijing.
China is the world's largest duck market in terms of both farming and consumption. The amount farmed in China accounts for nearly three-fifths of total global production each year.