Asia-focused Navis Capital has exited peking duck breeder Cherry Valley Group to Beijing consortium Agribusiness and Citic Agri Fund.
The investing pair will take Navis’ controlling stake in the company, although it is not clear what percentage will go to each.
The UK-founded duck breeder was bought out by Navis in 2010. Since then, it has expanded, investing in new technologies, breeding facilities and grown its leadership team.
Navis closed its seventh Asia fund on a $1.5bn hard cap in 2015, five years after collecting $1.2bn for Fund VI.
It now boasts a portfolio of 73 businesses across Asia.
Navis senior partner David Ireland said, “Cherry Valley is an outstanding, cutting edge genetics business with an industry leading position.
“The new owners are inheriting a strong management team and an excellent platform to grow particularly in China and Southeast Asia. ”
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