Latest news with #CPFoods
Forbes
22-04-2025
- Business
- Forbes
Thai Billionaire's CP Foods To Buy Itochu's Stake In CP Pokphand For $1.1 Billion
Charoen Pokphand Foods Pcl (CP Foods) chicken products sit on display inside a grocery store in ... More Bangkok, Thailand, on Friday, Aug. 11, 2017. T Charoen Pokphand Foods—controlled by Thai billionaire Dhanin Chearavanont and his family—will buy Japanese trading firm Itochu Corp.'s 23.8% stake in CP Pokphand for $1.1 billion. Upon completion of the transaction, CP Foods will own 100% of CP Pokphand, which will help boost CP Foods' net profit and improve return on equity, the company said in a statement on Monday. The full ownership of CP Pokphand—which operates agri-food businesses such as animal farming and the sale of processed food products in China and Vietnam—will also give CP Foods management flexibility and enable it to execute strategic plans more effectively. Bermuda-based CP Pokphand was delisted from the Hong Kong stock exchange in 2022 by CP Foods and Itochu Corp. CP Foods is a fully-integrated agro-industrial business with interests in animal feeds, livestock production, farming and ready-to-eat meat products. Following the divestment of its entire interest in CP Pokphand, Itochu said it will book a gain of 125 billion yen ($891 million) from the transaction in the current financial year to March 2026. The parent company of CP Foods and CP Pokphand, Charoen Pokphand Group, is one of the world's largest producers of animal feeds and livestock. In 1921, Dhanin's late father, Chia Ek Chor, and his uncle, Choncharoen Chiaravanont, opened a shop selling seeds imported from China to Thai farmers. With a real-time net worth of $14.6 billion, according to Forbes' data, Dhanin is among the richest in Thailand.
Associated Press
10-03-2025
- Business
- Associated Press
WHITE CASTLE RETAIL CHICKEN RINGS LINE UP NOW INCLUDES RANCH
Newest Craveable Flavor Infusion Introduced on National Ranch Day MINNEAPOLIS and COLUMBUS, Ohio, March 10, 2025 /PRNewswire/ -- White Castle Frozen Chicken Rings have expanded their lineup to include a delicious ranch-seasoned ring, now available in the frozen aisle of retailers. This exciting new flavor comes just in time for National Ranch Day on March 10. The new White Castle Ranch Chicken Rings feature a tangy blend of herbs and spices, developed through an ongoing partnership between White Castle, America's first fast-food hamburger chain and a leader in Sliders, and Bellisio Foods, a subsidiary of CP Foods and one of the nation's largest and most trusted frozen food companies. Originally introduced at retail in 2022, the White Castle Chicken Rings lineup now includes three flavors: Original, Spicy, and the new Ranch. 'We are thrilled to introduce new ranch-flavored chicken rings,' said Lynn Blashford, CMO, White Castle. 'Ranch is a beloved flavor that is consistently ranked high in popularity among consumers, yet surprisingly underrepresented in the frozen chicken category. We believe our ranch-flavored rings will fill this gap and become a Craveable favorite for consumers of all ages.' All flavors of White Castle Chicken Rings are made with tender, juicy white meat chicken and lightly breaded to perfection in a unique ring shape. White Castle Chicken Rings are packaged in a convenient, resealable bag to satisfy every crave anytime. 'We've seen the popularity of ranch grow over the past few years,' said Nicky Grimmius, VP of Marketing and Innovation, Bellisio Foods, Inc. 'Expanding the chicken ring offerings with a ranch flavor that consumers crave is creating new opportunities for retailers and delivering exactly what our chicken rings fans want. Our ranch-flavored rings tested 25% better in delivering a true-to-ranch flavor than the closest competitor in consumer testing and is the perfect product to celebrate National Ranch Day!' The White Castle frozen Sliders and Chicken Rings are available at many retail locations. More information about White Castle retail offerings can be found at ABOUT BELLISIO FOODS Bellisio Foods, Inc. is a subsidiary of Charoen Pokphand Foods PCL, an agro-industrial and food company headquartered in Thailand. CP Foods is one of the world's largest producers of feed, shrimp, poultry, and pork and acquired Bellisio in 2017. As one of the nation's largest frozen food companies, Bellisio produces more than 400 products spanning a wide variety of frozen food categories, including single- and multi-serve entrees, snacks, and side dishes. Bellisio markets these products under its Michelina's and Authentic Asia brands, as well as under licensed brands such as Boston Market, Atkins, and White Castle. The company also co-manufactures private label retail and foodservice products. For more information, visit ABOUT WHITE CASTLE® White Castle, America's first fast-food hamburger chain, has been making hot and tasty Sliders since 1921. Based in Columbus, Ohio, the family-owned business owns and operates 340 restaurants as well as a retail division providing its famous fare in freezer aisles of retail stores nationwide. As part of its commitment to offering the highest quality products, White Castle owns and operates its own Slider Provider meat plants, bakeries and frozen-Slider retail plants. White Castle has earned numerous accolades over the years including Time magazine's 'Most Influential Burger of All Time' (2014, The Original Slider®) and Thrillist's 'Best Plant-Based Fast-Food Burger' (2019, Impossible™ Slider). In 2021, Fast Company named the fast-food pioneer one of the '10 Most Innovative Dining Companies.' For more information on White Castle, visit Bellisio Foods 612.747.6414
Yahoo
04-03-2025
- Business
- Yahoo
Thai lawsuit targets Charoen Pokphand Foods over invasive fish impact
BANGKOK (Reuters) - A Thai court on Tuesday accepted a class action lawsuit against food giant Charoen Pokphand Foods for causing environmental damage from the rapid spread of an invasive fish species, a lawyer for the plaintiffs told Reuters. CP Foods is part of agro-industrial conglomerate Charoen Pokphand Group, which owns the country's second-largest mobile network and largest convenience store operator. The case is being brought by 10 fishermen from Samut Songkhram, a province by the Gulf of Thailand, known for its fishing industry. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. The class action, a rare legal procedure in Thailand, centres around the blackchin tilapia, a fish native to West Africa, which was brought to Thailand a decade ago. They prey on shrimp and snail, disrupting Thai aquaculture industry and native ecosystems. The action is seeking 2.4 billion baht ($70.9 million) in damages, lawyer Sittiporn Lelanapasak said. The plaintiffs allege that CP's actions linked to the import of the invasive species created environmental damage, diminishing the ecosystem that subsequently negatively impacted the fishermen livelihoods CP Foods denies the allegations. "The company's operations are not the source of the issues determination of the company's guilt or liability will be made after thorough examination of the evidence in court," it said in a statement. The court accepting the class action was seen as a positive sign and could encourage legal action from other farmers, Sittiporn said. The company's shares were down 2.08% against a benchmark drop of 0.90%. (Reporting Chayut Setboonsarng; Editing by Angus MacSwan)
Reuters
04-03-2025
- Business
- Reuters
Thai lawsuit targets Charoen Pokphand Foods over invasive fish impact
BANGKOK, March 4 (Reuters) - A Thai court on Tuesday accepted a class action lawsuit against food giant Charoen Pokphand Foods ( opens new tab for causing environmental damage from the rapid spread of an invasive fish species, a lawyer for the plaintiffs told Reuters. CP Foods is part of agro-industrial conglomerate Charoen Pokphand Group, which owns the country's second-largest mobile network and largest convenience store operator. The case is being brought by 10 fishermen from Samut Songkhram, a province by the Gulf of Thailand, known for its fishing industry. The class action, a rare legal procedure in Thailand, centres around the blackchin tilapia, a fish native to West Africa, which was brought to Thailand a decade ago. They prey on shrimp and snail, disrupting Thai aquaculture industry and native ecosystems. The action is seeking 2.4 billion baht ($70.9 million) in damages, lawyer Sittiporn Lelanapasak said. The plaintiffs allege that CP's actions linked to the import of the invasive species created environmental damage, diminishing the ecosystem that subsequently negatively impacted the fishermen livelihoods CP Foods denies the allegations. "The company's operations are not the source of the issues determination of the company's guilt or liability will be made after thorough examination of the evidence in court," it said in a statement. The court accepting the class action was seen as a positive sign and could encourage legal action from other farmers, Sittiporn said. The company's shares were down 2.08% against a benchmark (.SETI), opens new tab drop of 0.90%.
