Nevada-based Energroup Holdings Corporation has acquired Chinese pork processing company Dalian Chuming.
The company, with its Chuming brand food products, is a pork processor in both the Liaoning Province and the northeast region of China, a region with a population of 108 million people.
With sales (unaudited) of US$89.7m in the first three quarters of 2007, it is ISO 9001 and HACCP certified, maintains industrialised hog slaughtering, processing and distribution facilities.
In addition, the company has a wholesale-plus-retail distribution model, coupled with a premium brand and sells fresh, frozen and packaged meat and deli products directly to thousands of retail outlets including supermarkets and hypermarkets in China such as Wal-mart, Metro, and Carrefour, three of the world’s top ten retailers.
Huashan Shi, CEO and president of Chuming commented on the acquisition that “the proceeds will be utilised for working capital, to expand our production capabilities to meet growing market demand, and to broaden our distribution footprint to include cities surrounding our primary hub of Dalian City located in the province of Liaoning, where to date we have achieved a 50% market share in the fresh pork market.”