02 Feb 2018 | 09:58 am | 1 min. read
International law firm Pinsent Masons has advised Cargill on its joint venture with Faccenda to create Avara Foods.
Avara Foods will combine Cargill’s fresh chicken business in the UK and Faccenda’s fresh chicken, turkey and duck business.
The new joint venture follows Competition and Market Authority (CMA) approval in December and will be a 50/50 shared ownership between Cargill and Faccenda. It will employ 6,000 people in a fully integrated supply chain.
The Pinsent Masons team advising Cargill was led by Partner Nicole Livesey, and supported by Sophie Thornton, Liz Lishman and Georgie Messent.
Nicole Livesey, partner at Pinsent Masons, commented: "The creation of Avara foods is a great success and I'm pleased that our team were able to deliver the legal and sectoral expertise that was essential for the joint venture to take place. It has been a pleasure to work with all parties involved."
Andy Dawkins, chief executive of Avara Foods, said: "This is an exciting day. Launching Avara Foods brings together two successful businesses with high standards, shared values and strong reputations for building sustainable partnerships with customers, growers and suppliers.
“Now the opportunity is to take the best from both and provide our customers with great service and innovation from a trusted leader in fresh foods.
“We believe that it is our strong values and talented people that make the difference and will be key to the success of our business now and in the future,” he added.
“Our first step is to make sure that there is a smooth transition as we bring together the two businesses as Avara Foods, and establish a solid platform for growth.”
Chris Langholz, President of Cargill Poultry added: “Combining into one entity allows us to build on our strengths, grow in the market and better serve our customers. The venture will facilitate greater opportunities to innovate and deliver new and exciting poultry products for consumers.”
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