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United Food acquires 80% stake each in 3 China animal feed firms for $24.5 mil

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United Food acquires 80% stake each in 3 China animal feed firms for $24.5 mil

PC Lee Published on Fri, Oct 06, 2017 / 7:41 AM GMT+8

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SINGAPORE (Oct 6): United Food Holdings, the supplier of soybean products, animal feeds and pigs, is acquiring an 80% stake each in three China companies that develop and sell animal feed and animal feed-related products.

In a filing on Thursday night, United Food says the total consideration for the acquisitions will be 120 million yuan ($24.5 million).

The acquisitions will allow United Food to expand and strengthen its foothold in China, and gain the target companies' expertise and products, the company said.