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Friday, August 7, 2015
WENS Group to merge with Guangdong Dahuanong
Guangdong Dahuanong Animal Health Products Co. Ltd. announced on July 23 the proposed merger of WENS Group and Dahuanong will be reviewed by China Securities Regulatory Commission in the near future. The announcement indicated that the giant livestock farming company has reached the concluding phase for its full listing.
In line with the merger scenarios announced by Dahuanong in late April, WENS Group would be a fully public company via the merger by stock exchange with Dahuanong.
After the merger, the legal personality of Dahuanong will be canceled, while WENS Group as the remainder company, will take over all the assets of Dahuanong.
WENS Group is a trans-regional livestock farming company which has established the National Pig Breeding Engineering Research Center, National Enterprise Technology Center (NETC) and it has seven national-grade animal species. As the most influential brand in China's animal husbandry industry, WENS Group harvested total revenues of about CNY38 billion (US$6.12 billion) and profit around CNY 2.9 billion (US$467.2 million) in 2014. In 2014, the sales of commercial broilers of WENS Group registered a total of 700 million, that is, 8 percent of China's broiler market; the sales volume of pork was 12.18 million head, 1.66 percent of the national market, according to Wen Zhifen, CEO of WENS Group. In the future, the pork market will be the main growth point of the company.
Guangdong Dahuanong Animal Health Products Co., Ltd. is an animal health products manufacturer, main products including veterinary vaccines, veterinary drugs, and feed additives. Dahuanong went public on March 8, 2011 in Shenzhen Stock Exchange and was the first stock company in Guangdong veterinary industry.