Thailand’s CPF Buys 2nd Largest Pork Producer in Canada
Charoen Pokphand Foods (CPF), based in Thailand, has signed an agreement to purchase HyLife, the second largest pork producer in Canada with 87,000 sows.
CPF, the third biggest pig production company in the world, has been looking for a foothold on this continent for several years, says Claude Vielfaure, president of HyLife, based in La Broquerie, Manitoba. “This will be their way of growing in North America. They want us to grow as quickly as possible.”
Disease pressures elsewhere are adding to the growth expectations. “It is a very interesting time for our industry, especially with African swine fever in Asia and other places," says Vielfaure. "It creates huge opportunities for companies in North America to grow and fill that demand for pork.”
HyLife has 70,000 sows in China as part of a joint venture. About 15,000 of those sows have been challenged with African swine fever, says Vielfaure.
The deal with CPF has been in the works since late last summer, says Vielfaure. The three founders of HyLife, including Vielfaure, are retiring when the deal closes later this year.