CPF taking food to EU with WFGL
CPF Investment Ltd, a wholly owned subsidiary of Charoen Pokphand Foods Plc (CPF), has inked a share purchase agreement with Westbridge Food Group Ltd (WFGL) at a combined value of £60 million (2.6 billion baht) to expand CPF’s market in Europe. CPF chairman and chief executive Adirek Sripratak said the investment in WFGL will allow CPF to expand its distribution network for retail, food service and food production in Britain and the EU. “Most of WFGL’s markets are new customer groups for CPF,” he said. “WFGL’s products mainly involve chicken, shrimp, fish and processed foods, which fall in line with CPF’s products.”
