BEIJING (Reuters) – Agribusiness giant Cargill has agreed to sell its poultry business in China to private equity firm DCP Capital, the U.S. company said in a statement on Wednesday.
The sale of the unit known as Cargill Protein China is subject to regulatory approvals but is expected to close this year, it added.
The sale includes chicken farms in Chuzhou in eastern Anhui province and related manufacturing sites.
Cargill did not give a transaction price in its statement.
Cargill started its China poultry operations in 2011, breeding, raising and processing the chickens. In 2019 it added a $48.8 million plant to the operations.
China’s DCP Capital has invested in several other food and agriculture businesses including one of China’s top poultry producers Fujian Sunner Development, according to is website.
DCP Capital is a private equity firm focused on Greater China led by former members of the KKR and Morgan Stanley private equity businesses, according to its website.
(Reporting by Dominique Patton; Editing by Christian Schmollinger)