Cargill, the world's largest agribusiness company, has agreed to sell its poultry business in China to private equity firm DCP Capital, the company announced on Wednesday.
The sale of Cargill Protein China is subject to regulatory approvals but is expected to close this year, according to the company.
The sale includes chicken farms in Chuzhou, Anhui province's easternmost city, as well as related manufacturing facilities.
In its statement, Cargill did not provide a transaction price.
Cargill began its poultry operations in China in 2011, breeding, raising, and processing chickens. It added a $48.8 million plant to its operations in 2019.
According to the company's website, China's DCP Capital has invested in several other food and agriculture businesses, including one of China's top poultry producers, Fujian Sunner Development.
DCP Capital is a private equity firm focused on Greater China that is led by former members of the KKR and Morgan Stanley private equity businesses.
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