The board of Thai poultry producer Charoen Pokphand Foods (CP Foods) has reportedly approved a plan to acquire an 80% stake in processed meat company CP-Yonekyu.
The purchase price of the stake was THB161m (US$4.1m), reported Dow Jones International News.
CP Foods is one of Thailand’s largest agribusiness conglomerates, specialising in the production and manufacture of processed meat products. In 2003 the company reported total revenues of THB83.1bn and net profit of THB2.24bn.
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