BANGKOK -- Thailand's Charoen Pokphand Foods has agreed to acquire German meat supplier Paulsen Food for 12 million euros ($13.6 million), aiming to raise its profile in a European poultry market that ranks as the world's third-largest.
Paulsen has an annual quota to import 6,100 tons of poultry meat and related processed foods from Thailand into the European Union. The acquisition will allow CP Foods to use the entire quota for its own products.
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