Cargill and Faccenda Foods agree to a poultry joint venture
Cargill and Faccenda Foods have announced a new joint venture focused on chicken, turkey and duck, which will see both companies take an equal shareholding.
The new company will be a standalone business, with Cargill’s fresh chicken business in the UK joining Faccenda’s fresh chicken, turkey and duck business to form it.
The business plans to employ approximately 6,000 people in the UK, with employees coming from both parent companies.
It is also set to operate across multiple agriculture and operational centres, with broad capabilities.
The name of the new venture is going to be announced at the closing of the deal.
Andy Dawkins, managing director for Faccenda Foods, will be appointed chief executive officer of the newly formed company, while Chris Hall, fresh chicken director for Cargill Meats Europe, will be appointed chief commercial officer.
Chris Langholz, president of Cargill Poultry, commented: “We believe the two organisations are complementary. Combining into one entity allows us to build on our strengths, grow in the market and better serve our customers.
“The venture will facilitate greater opportunities to innovate and deliver new and exciting poultry products for consumers.”
Ian Faccenda, chief executive officer of Faccenda Investments, added: “Both Cargill and Faccenda are recognised today by their customers for their high standards and great service.
“The new joint venture confirms our long-term commitment to being a responsible partner across the entire supply chain, providing stability and security to our customers, suppliers and growers for years to come.”
Separate to the joint venture, Cargill will continue to process and sell cooked poultry products in Balliol, Wolverhampton, as well as operate its poultry import, trading and distribution business.
Cargill will also continue to operate its European poultry businesses in France, Russia and the Netherlands.
Faccenda will retain its shareholding in Dartmouth Foods.
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