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October 13, 2021

Charoen Pokphand Foods strikes two M&A deals in Poland

One of the Thai meat and shrimp giant’s transactions centres on a supplier of plant-based meat substitutes.

Thailand-based meat and seafood major Charoen Pokphand Foods has invested in three businesses in Poland.

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Charoen Pokphand Foods (CPF), which has a European arm that already has assets in Poland, has bought a 50% stake in meat-substitute company Well Well Invest.

The company, meanwhile, has also acquired two seafood businesses – Fish Food and MaxFish – from owners Paweł Krześlak and Małgorzata Krześlak.

CPF said Well Well, which sells meat substitutes under its namesake brand, would be run as a joint venture. Well Well’s existing shareholders will remain with the business. ZPS Convita, which had owned 89.6%, will hold 44.8%. BNP Paribas Bank Polska will see its stake halve from 10.4% to 5.2%.

The Thai giant is paying PLN10m (US$2.5m) for its stake in the business and plans to pay another PLN10m to subscribe to convertible bonds to be issued by the company.

Well Well, based in Warsaw, also sells plant-based meat products under the Polsoja brand in Poland and the Hobelz brand in neighbouring Germany. CPF said Well Well’s product range includes sausages, tofu, spreads, falafel and burgers.

CPF launched its own plant-based meat brand, Meat Zero, earlier this year.

The company is putting up a further PLN12m to buy Fish Food and MaxFish and take on the business’ loans. Fish Food manufacturers products including breaded seafood and marinated fish. MaxFish is a seafood distributor and trader.

CPF said the acquisition would “diversify the company’s product portfolio and customer base” in Poland, where it already has a poultry business.

The group’s European operations also take in subsidiaries in the UK, Belgium, Turkey and Russia.

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VC funding trends to watch out for in Consumer

Consumer industry investors across the world are betting big on the ESG trend to pick up in the future and are focusing on backing the start-ups and emerging companies working in the meat-alternative products category.   The top two deals in this category were the $500 million investment raised by Impossible Foods and the $347 million investment deal for Future Meat Technologies.  GlobalData’s Venture Capital Investments – Consumer 2021 will help you dive into the capital raising landscape across regions and themes.  Use the report to identify emerging signals and trends across Consumer, formulating winning strategies for the road ahead.   
by GlobalData
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