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Cargill, a U.S. agribusiness giant, said it's selling its poultry business to DCP Capital, a private equity firm. Cargill Protein China began in 2011, breeding, raising, and processing chickens in Chuzhou in the eastern Anhui province of China. The unit's sale is expected to close this year according to a statement last week and the transaction price is still unknown.
DCP Capital has investments in Fujian Sunner Development, another top poultry producer in China. DCP Capital is focused on Greater China and is led by former KKR and Morgan Stanley private equity business members according to their website.
After the United States, China is the world's number 2 poultry producer, producing about 19 million tonnes of chicken meat last year.
About Cargill
Cargill, Incorporated, is a privately held American global food corporation based in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware. Founded in 1865, it is the largest privately held corporation in the United States in terms of revenue. In 2015, if it were a public company, it would have ranked number 15 on the Fortune 500, behind McKesson and ahead of AT&T. Cargill has frequently been the subject of criticism related to the environment, human rights, finance, and other ethical considerations.
Cargill remains a family-owned business, as the descendants of the founder (from the Cargill and MacMillan families) own over 90% of it. In January 2023, Brian Sikes was appointed to serve as president and CEO. He is the 10th CEO in Cargill's 158-year history.
About DCP Capital
DCP is a leading international private equity firm founded by experienced private equity investors in Greater China. The DCP team previously led KKR and Morgan Stanley's private equity businesses in Asia, achieving an outstanding long-term track record across multiple economic cycles. DCP is supported by a diverse group of world-class long-term institutional investors, including leading sovereign wealth funds, pension funds, endowments, family offices and funds of funds around the globe.
Over the past three decades, the DCP team has led a number of successful transactions and nurtured numerous industry leaders in China such as Ping An Insurance, Mengniu Dairy, Haier Appliances, China International Capital Corp, Oriental Yuhong Building Material, Dongbao Pharmaceutical, Venus Medtech, AAC Dairy, Simple Love Yogurt, Nanfu Battery, COFCO Joycome,Sunner Poultry, Far East Horizon, Hengan Intl. Belle, Modern Dairy, and United Envirotech. Combining its global investment experience and extensive local network, the DCP team has accumulated deep industry knowledge and strong operational capabilities. As a disciplined and operationally focused investor, DCP is committed to building long-term, win-win partnerships with portfolio companies and support value creation initiatives.
