Minerva Foods signs MoU for joint venture in China

China
Published:  04 October, 2019

The Brazilian meatpacker has signed an agreement aimed at growing its presence in China.

Minerva Foods announced it has signed a Memorandum of Understanding with the Chinese representatives Xuefang Chen and Wenbo Ge to explore commercial opportunities in the Chinese market, particularly on the imports and distribution of beef in China. “The purpose of the Memorandum is to set up a joint venture, in which Minerva, Athena Foods or any other subsidiaries to be defined, shall be partners”, said the Brazilian meatpacker.

With the establishment of this JV, in partnership with Chinese representatives, the company said it aims to maximise its distribution channels in China to enable new business opportunities, and to meet the growing demand for beef protein in China, which today accounts for an estimated 15% of all global beef consumption.