Chongqing Ji Mao Cang Feed serves over 200 customers in farm industry and around 100 customers in feed production industry
China Xiangtai Food has agreed to acquire majority stake in Chongqing Ji Mao Cang Feed. (Credit: Adam Radosavljevic from Pixabay)
China Xiangtai Food has entered into a non-binding memorandum of understanding (Mou) to purchase a controlling stake in Chongqing Ji Mao Cang Feed (JMC).
The company is acquiring a 51% stake in JMC through its subsidiary Chongqing Jinghuangtai Enterprise Management Consulting.
JMC general manager Jiaping Zhou said: “JMC stands to benefit greatly from PLIN’s senior experience and resources in the food industry, and values PLIN’s continued involvement as we look to further expand JMC’s profitability with the development of production capability and enhancements to our distribution channels.”
JMC is a private enterprise that provides feed formula solutions
Founded in 2012, JMC is a private enterprise that has expertise in raw material sales, as well as offering feed formula solutions.
The acquisition of JMC will allow China Xiangtai Food to expand its operations in the southwest market of China.
JMC serves more than 200 customers in the farm industry and around 100 customers in the feed production industry. The company sold over 200,000 tonnes of soybean meal in 2019.
The company has established strategic collaborations with large grain and oil companies such as Sinograin, COFCO, Cargill, Good Ocean, and Louis Dreyfus, and has secured general distributorship in Chongqing, Sichuan and other areas.
China Xiangtai Food chairwoman and CEO Zeshu Dai said: “We are enthusiastic about partnering with JMC to continue accelerating the growth of the Company.
“This move is in line with our growing strategy of solidifying our industry position by gaining additional market share and expanding our product portfolio. With JMC’s capability in feed raw material and formula solutions, we can improve our industrial chain and our competitiveness to position well for the expansion.”
Based in Chongqing, China Xiangtai Food is involved in pork processing. It covers crucial sections of the pork processing value chain, including slaughtering, packing, distribution, and wholesale of different pork meat and parts.
The firm also offers other fresh and processed products such as beef, lamb, and poultries.
In January this year, BlueNalu, a seafood product developer, formed a strategic partnership with Dutch animal nutrition and aquafeed company Nutreco.