Mitsui buys stake in broiler chicken producer in Egypt
The Japanese company did not disclose the share it bought
17 November 2023
1 minute read
By: Japanese trading house Mitsui & Co said on Thursday it had bought into Wadi Poultry S.A.E., a broiler chicken producer in Egypt that is also involved in the processing, sale and procurement of feed grain, to expand its protein business, reported Reuters.
By investing into Wadi, Mitsui wants to expand its chicken business cluster into Egypt, which is one of the largest markets in Africa in terms of population, it said.
Mitsui did not disclose the share it bought or the price but said Wadi's holding company will become its associated company.
In August, Mitsui agreed to invest $360 million in an Ecuadoran shrimp farming company to cement its role in the industry and capture rising consumer demand for higher protein food.
