Thailand-based Charoen Pokphand Foods\' Europe branch has agreed to acquire Germany-based Paulsen Food Service, the company said in a release on Friday.

This gives one of the world\'s largest shrimp farmers a 95% stake in the company, a German meat and prepared foods distributor, which sells to high-end foodservice customers.

The acquisition diversifies Thailand\'s largest food company, which is known as a farmer of livestock and seafood. Through activities in Vietnam, the Philippines, Malaysia, China, India, Russia and Turkey, CP Foods farms pigs, poultry, shrimp, tilapia and catfish, as well as producing animal and fish feed.

Source: Undercurrent News // Original Article