Thai Foods Group, the Thailand-based poultry processor, has struck a deal to buy a majority stake in local business Big Food Group.

The company is to pay THB60m (US$1.7m) for a 75% stake in Big Food Group. Thai Foods Group is putting up THB20m for shares held by Big Food Group’s existing investors and paying THB40m for newly-issued shares. Once the transaction is finalised, Big Food Group’s existing shareholders will own the remainder of the business.

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Thai Foods Group said the deal was part of its strategy to expand its domestic poultry business.

Big Food Group has a slaughter house located in the central Thai province of Ratchaburi province with a capacity of 40,000 chicks per day. Thai Foods Group said the capacity could be increased to 80,000 chicks a day. Big Food also has 4 hatcheries and contract farming with 118 farms.

Thai Foods Group said Big Food Group made sales of THB1bn and a net loss of THB18.6m in 2015.

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