Chinese companies buy British Peking duck supplier

0 Comment(s)Print E-mail Xinhua, September 11, 2017
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Two Chinese companies have acquired 100 percent stake of a top British poultry firm which supplies the breed of the famed Peking roast ducks.

Beijing Capital Agribusiness Group (Sunlon) and CITIC Agriculture announced the acquisition of Cherry Valley Farm Monday, saying the deal includes the British firm's breeding technologies and patents.

The cost of the deal has not been made public.

Sources with Sunlon said Cherry Valley Farm entered the Chinese market in the 1990s and has grown to become the country's major duck breeder with a market share of 80 percent.

China is now home to more than 2.5 billion Cherry Valley ducks, the British company said on its website, adding that it is the world's leading breeder of Peking ducks.

The company's patented technologies are lucrative, generating a significant amount of profit. Chinese industry observers said the acquisition will break the West's monopoly in duck breeding and will support import substitution programs.

Sources with Sunlon said after the purchase, they will set up an independent lab for genetic research to improve the domestic duck supply chains.

China is the world's largest duck meat consumer, with two-thirds of the world's total duck breeding stock.

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