Chinese companies buy British Peking duck supplier
Photo of Cherry Valley duck. [Photo: tupian.baike.com]
Two Chinese companies have acquired a top British poultry firm which supplies the breed used to make the famed Peking roast duck.
Beijing Capital Agribusiness, or Sunlon, and CITIC Agriculture announced the acquisition of Cherry Valley Farm.
The deal includes the British firm's breeding technologies and patents. The value of the deal has not been announced.
Signing ceremony of the acquisition of Cherry Valley Farm by Beijing Capital Agribusiness, or Sunlon, and CITIC Agriculture is held on September 11, 2017. [Photo: Beijing Capital Agribusines]
Observers suggest that the acquisition may break the West's monopoly in duck breeding, while supporting import substitution programs.
Sources with Sunlon said Cherry Valley Farm entered the Chinese market in the 1990s, and has grown to become the country's major duck breeder with a market share of 80 percent.
Currently, China is reportedly home to over 2.5 billion Cherry Valley ducks.