China’s WH Group, owner of US pork giant Smithfield Foods, is reportedly interesting in expanding its business into the beef and poultry sectors.
Reuters reported WH Group is looking for companies to buy in those industries in the US and Europe, citing Luis Chein, the company’s director of investor relations.
“For us, the next step to develop our business is to consider other sources of animal protein,” Chein reportedly said.
Chein told Reuters WH Group would prefer to acquire slaughterhouses and processing plants to expand into the beef market but would consider all types of operations in poultry.
He did not name specific targets, nor provide a timetable for when WH Group could enter the sectors, the newswire said.
Officials at WH Group could not be reached for immediate comment.
In 2013, WH Group, then known as Shuanghui International, acquired Smithfield in a deal that valued the US-based pork processor at US$1.8bn.