Thailand's Bangkok Ranch Group has bought UK's duck giant Cherry Valley for an undisclosed fee.
The 600-employee strong Cherry Valley will continue to operate as an autonomous operation, with MD Richard Bird putting off retirement to stay in position for a further 2 years to see the ambitious growth plans realised.
"We are looking to expand the business here and overseas in China and we need considerable financial support to enable us to make these investments. With the backing of the Bangkok Ranch Group we can access the capital we need," said Bird, adding that this means expansion to the production business, which should lead to increased employment opportunities locally.
Bangkok Ranch Group (BRG) has acquired 100% of the share capital, and has 2 main shareholders, venture capitalists Navis Capital and Rabobank.
Cherry Valley will be a third operating company, complemented by 26-year-old Bangkok Ranch in Thailand and Tomassen Duck-To, a 37-year-old Dutch operation. Both are fully integrated organisations, just like Cherry Valley, reports continue.
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