Global private equity giant KKR has agreed to invest approximately $400m for an 18 per cent stake in Chinese chicken producer Sunner.
KKR and will form a strategic partnership with the company in a bid to help expand the chicken producer’s operations.
Sunner is China’s largest breeder, processor and supplier of chicken products and provides fresh and frozen chicken for the fast food and food manufacturing industries and meat wholesale markets.
KKR Greater China CEO David Liu said, “Sunner is a market leader in China’s chicken farming industry. It has an experienced management team and meets the highest operating standards.
“We look forward to working with them by providing capital, KKR’s global resources and operational expertise to further strengthen Sunner’s market leadership, contribute to China’s food safety initiatives and bring safe and high-quality chicken to Chinese consumers.”
KKR sold its stake in China Modern Dairy Holdings to strategic buyer Mengniu Diary in May last year.
The deal saw KKR and fellow buyout house CDH Investments sell their stakes which totalled a 26.9 per cent shareholding, for $419m.
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