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Cargill to Sell China Poultry Unit to Private Equity Firm DCP Capital
U.S. agribusiness giant Cargill said it is selling its poultry business in China to private equity firm DCP Capital, exiting a Chinese meat market that has become increasingly challenging, especially for foreign players.
The sale of the unit known as Cargill Protein China is subject to regulatory approvals but is expected to close this year, Cargill said in a statement on Wednesday.
It did not give a transaction price and DCP declined to comment on the deal.
China is the world's No.2 poultry producer after the...
FCPT Announces Agreement to Acquire Up to 14 Darden Restaurant Properties for $85 Million
Four Corners Property Trust , a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, is pleased to announce the signing of a definitive agreement to acquire up to 14 Darden restaurant properties (13 Cheddar's Scratch Kitchen properties and 1 Olive Garden property) for a purchase price of up to $85.0 million on initial cash rent of up to approximately $5.35 million.
The transaction is expected to close in the third quarter of...
Tyson Foods Completes Acquisition of Williams Sausage Company
Today, Tyson Foods, Inc. completed the previously announced acquisition of Williams Sausage Company, Inc. of Union City, Tenn., furthering the company’s strategy to increase its capacity and product portfolio. To ensure the continuity of business operations, Emily Billingsley, Roger Williams’ daughter, will be responsible for the company’s operations.
“This acquisition aligns with our strategy to win with customers, augments our manufacturing capabilities, and expands our product portfolio,” said Stewart Glendinning, group president, Prepared Foods for Tyson Foods. “Williams Sausage Company brings real strengths in its brand, facilities, and direct store delivery network...
CEO: Kroger 'Committed to Litigate' if Regulators Seek to Block Merger Deal
Kroger is prepared to fight regulators at the Federal Trade Commission, if they seek to block its $25 billion takeover of Albertsons, CEO Rodney McMullen told Bloomberg News on Wednesday.
In March, The Enquirer reported the massive deal could face harsher regulatory scrutiny in light of tougher antitrust regulators under President Biden.
McMullen told the news outlet that Kroger and Albertsons have been prepared for a court battle from the start.
"Usually you wouldn't commit in advance to litigate. In this case we both committed to litigate...
California Pizza Kitchen Announces Launch of Domestic Re-Franchising Program
California Pizza Kitchen (CPK), the creator of California-style pizza, announced today the launch of its re-franchising program as part of its domestic franchise offering. As CPK looks to strategically expand its presence, the brand is now open to partnering with experienced multi-unit restaurant operators looking to purchase existing CPK locations in select markets within the United States.
This announcement builds on the momentum of California Pizza Kitchen's international and domestic franchise openings last year as well as the launch of its domestic franchise program in...
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