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'Olympic' pork processor taken over

Qianxihe Food, a Beijing-based pork processor, is being bought by China's biggest feed manufacturer, New Hope Group.

New Hope announced it is buying a 60% stake, involving about €12.3 million.


Qianxihe will be the exclusive supplier of fresh and processed pork products for the Beijing Olympic Games, to be held next year.


Facilities


The pork processor has a total annual slaughtering capacity for approximately five million pigs, having two modern slaughtering facilities in Beijing and Hebei.


The company has another abattoir in Liaoning province under construction.


New Hope aims to be diversifying its business, hence the take-over. Almost two years ago, the company acquired a majority stake in Shandong Liuhe, a feed manufacturer and poultry processor in East China.


Related websites:
• New Hope Group
• Beijing Olympic Games


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