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Food & Beverage

China meatpacker WH Group seeks to gobble up European peers

Pork processor's income now comes almost entirely from domestic market and U.S.

WH Group looks to conduct more M&A of pork producers and processors in Europe.   © Reuters

DALIAN, China -- Chinese pork processor WH Group is considering acquiring more companies in Europe to diversify its income sources, which now depend heavily on its home market and the U.S.

"We're actively searching for targets in Europe and are ready to buy them if an opportunity arises," CEO Guo Lijun said in an earnings call on Monday. The owner of U.S. pork behemoth Smithfield Foods is looking at pork producers and processors, Guo added.

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