Golden Siam Foods owner mulls sale
Navis Capital bought Golden Siam Foods six years ago
The owner of Golden Siam Foods is reportedly gauging interest in the Thailand-based poultry group.
Private-equity firm Navis Capital told The Wall Street Journal it is assessing what level of interest there could be in the business.
"We’re just in a testing-the-market stage," Richard Foyston, chairman of the Malaysia-based private-equity firm, said. "It may come to fruition in the next couple of months, or maybe not."
Foyston said falling feed prices meant it could be an opportune time to sell a business it acquired in 2009. "It's not a bad time to be looking at selling," he said. "Declining cost base is one of the good reasons to be looking at exiting."
Asked to confirm Foyston's comments, a spokesperson for Navis Capital told just-food: "Navis is a private-equity firm which by implication means that we sell our businesses after a few years of growth and performance improvement under our ownership. GFS has attracted a lot of interest from the trade as it is one of the largest fully-integrated added value chicken (CAV) producers in Thailand, Thailand is the global low-cost and largest producer of internationally-traded CAV, and GFS is the only large company in the sector that is available to be acquired for the long-term foreseeable future - the others being part of large conglomerates and/or under long-term family ownership."
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