Cargill and Faccenda enter in new UK poultry venture
The new joint venture is still subject to clearance by the regulatory authorities.
The name of the company will be revealed as soon as the deal is closed and it will "have the capability to respond to changing customer needs in the retail and food service sectors with a strategy for growth."
Cargill and Faccenda will have an equal shareholding of the new company.
Andy Dawkins, managing director for Faccenda Foods, will occupy the position of Chief Executive Officer of the newly formed company, while Chris Hall, fresh chicken director for Cargill Meats Europe, will be appointed Chief Commercial Officer of the new joint venture.
The companies expect that the new business will require the employment of nearly 6,000 people in the UK, with employees coming from both parent companies.
“We believe the two organizations 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,” Chris Langholz, President of Cargill Poultry, said.
“Both Cargill and Faccenda are recognized 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,” Ian Faccenda, Chief Executive Officer of Faccenda Investments, added.
Cargill plans to continue to process and sell cooked poultry products in Balliol, Wolverhampton, as well as operate its poultry import, trading and distribution business, separate from this joint venture. The company said it will also continue its operations in the European poultry businesses in France, Russia, and the Netherlands.
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